Seminar series
Date
Thu, 31 Jan 2013
Time
13:00 -
14:00
Location
DH 1st floor SR
Speaker
Hanqing Jin
Organisation
Mathematics (Oxford)
General Arrow-Debreu equilibrium can be determined for expected utility maximisers by explicit solutions for individual players. When the expected
utilities are distorted by probability weighting functions, players cannot find explicit optimal decisions. Zhou and Xia studied the existence of equilibrium when the probability weighting functions are the same for all individual players. In this paper, we investigate the same problem but with heterogeneous probability weighting function.