Stability and equilibria in incomplete markets by Gordan Zitkovic

Event Date: 

Monday, April 9, 2007 - 3:15pm

Event Date Details: 

Refreshments served at 3 pm

Event Location: 

  • South Hall 5607F

Gordan Zitkovic (Mathematics, UT Austin)

A study of the continuity properties of the demand function of risk-averse agents investing in an incomplete market has been initiated in the work of Larsen and Zitkovic (2006), and further developed in Kardaras and Zitkovic (2007). In this talk I will present a summary of those results and present an extension of the fixed-point theorem of Knaster, Kuratowski and Mazurkiewicz beyond the realm of locally convex spaces. Finally, I will present an outline of a research program where the combination of the two is used to estabilsh existence of financial equilibria in incomplete markets.