报告题目： Duality and General Equilibrium Theory under Knightian Uncertainty

报 告 人： Prof. Laurent Denis

报告时间：2018年11月5日下午2:00-4:00

报告地点：知新楼B-1238

报告摘要：

Anydynamic or stochastic notion of a general equilibrium relies on the underlyingcommodity space. Under sole risk and without multiple-prior uncertainty theusual choice is a Lebesgue space from standard measure theory. In the case ofvolatility uncertainty it turns out that such a type of function space is nolonger appropriate. For this reason we introduce and discuss a new naturalcommodity space, which can be constructed in three independent and equivalentways. Each approach departs from one possible way to construct Lebesgue spaces.Moreover, we give a complete representation of the resulting topological dualspace. This extends the classic Riesz representation in a natural way. Elementstherein are the candidates for a linear equilibrium price system.  This representation result has directimplications for the microeconomic foundation of finance under Knightianuncertainty.

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