Browsing by UP Author "Ma, Wei"

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Bayesian learning with multiple priors and nonvanishing ambiguity

Zimper, Alexander; Ma, Wei (Springer, 2017-10)

The existing models of Bayesian learning with multiple priors by Marinacci (Stat Pap 43:145–151, 2002) and by Epstein and Schneider (Rev Econ Stud 74:1275–1303, 2007) formalize the intuitive notion that ambiguity should ...
A constructive proof of the existence of collateral equilibrium for a two-period exchange economy based on a smooth interior-point path

Ma, Wei (Springer, 2015-01)

In the real economic world, we often suffer from the default risk—the present financial crisis could serve as an evidence. The long established idea for inhibiting the default behavior is to resort to collateral, and ...
The existence and efficiency of general equilibrium with incomplete markets under Knightian uncertainty

Ma, Wei (Elsevier, 2015-09)

This paper first establishes the existence of equilibrium for an economy with Knightian uncertainty and incomplete markets, and then demonstrates the constrained Pareto efficiency of the equilibrium when there is one ...
A simple method for computing equilibria when asset markets are incomplete

Ma, Wei (Elsevier, 2015-03)

The problem of computing equilibria for general equilibrium models with incomplete real asset markets, or GEI models for the sake of brevity, is reconsidered. It is shown here that the rank-dropping behavior of the asset ...

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