On Uniqueness of Equilibria in the CAPM

Abstract

In the standard CAPM with a riskless asset we give a sufficient condition for uniqueness.This condition is a joint restriction on the agents' endowments and their preferences which is compatible with non-increasing absolute risk aversion and which is in particular satisfied with constant absolute risk aversion. Moreover in the CAPM without a riskless asset we give an example for multiple equilibria even though all agents have constant absolute risk aversion.

Are People Conditionally Cooperative? Evidence from a Public Goods Experiment

“…1, 4, 16, 17, 20, 21, 23, 25, 31, 33, 35, 37, 41; Conditional Cooperators (Spearman's ρ > 0 at p-value < 0.001): Subjects no. 3,6,7,8,9,10,11,12,13,18,19,22,24,28,30,32,34,36,38,39,42,43; "Hump-Shaped": Subjects no. 5, 15, 26, 27, 29, 40; Other patterns: Subjects no.…”

Are people conditionally cooperative? Evidence from a public goods experiment

“…1, 4, 16, 17, 20, 21, 23, 25, 31, 33, 35, 37, 41; Conditional Cooperators (Spearman's ρ > 0 at p-value < 0.001): Subjects no. 3,6,7,8,9,10,11,12,13,18,19,22,24,28,30,32,34,36,38,39,42,43; "Hump-Shaped": Subjects no. 5, 15, 26, 27, 29, 40; Other patterns: Subjects no.…”