Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/189329 
Year of Publication: 
2004
Series/Report no.: 
Queen's Economics Department Working Paper No. 1049
Publisher: 
Queen's University, Department of Economics, Kingston (Ontario)
Abstract: 
This paper shows that the value function describing efficient risk sharing with limited commitment is not necessarily differentiable everywhere. We link differentiability of the value function to history dependence of efficient allocations and provide sufficient conditions for both properties.
Subjects: 
Risk Sharing
Limited Commitment
Differentiability of Efficient Frontier
JEL: 
C61
E21
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.