caa a22 4500 605475881 CHVBK 20210128100354.0 cr unu---uuuuu 210128e20150801xx s 000 0 eng 10.1007/s00199-014-0839-6 doi (NATIONALLICENCE)springer-10.1007/s00199-014-0839-6 Correia-da-Silva João CEFUP and Faculdade de Economia, Universidade do Porto, Rua Dr. Roberto Frias, 4200-464, Porto, Portugal aut Two-period economies with price-contingent deliveries [Elektronische Daten] [João Correia-da-Silva] An economy with ex ante markets for future delivery contingent on ex post spot market prices is considered. Since spot prices are publicly observed ex post, this framework bypasses the enforcement problems that may arise as a result of differential information about states of nature. Generically, the equilibria of an economy with price-contingent deliveries coincide with the equilibria of the corresponding economy with state-contingent deliveries. However, replacing state-contingent deliveries with price-contingent deliveries may generate additional equilibria and/or remove some equilibria. The perfect foresight hypothesis is crucial to avoid a severe problem of nonexistence of equilibrium. Springer-Verlag Berlin Heidelberg, 2014 General equilibrium nationallicence Price-contingent deliveries nationallicence Differential information nationallicence Economic Theory Springer Berlin Heidelberg 59/3(2015-08-01), 509-525 0938-2259 59:3<509 2015 59 199 https://doi.org/10.1007/s00199-014-0839-6 text/html Onlinezugriff via DOI BK010053 XK010053 XK010000 Metadata rights reserved Springer special CC-BY-NC licence nationallicence 1 research-article jats NATIONALLICENCE NATIONALLICENCE NL-springer NATIONALLICENCE 856 40 https://doi.org/10.1007/s00199-014-0839-6 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Correia-da-Silva João CEFUP and Faculdade de Economia, Universidade do Porto, Rua Dr. Roberto Frias, 4200-464, Porto, Portugal aut NATIONALLICENCE 773 0- Economic Theory Springer Berlin Heidelberg 59/3(2015-08-01), 509-525 0938-2259 59:3<509 2015 59 199