On risk averse competitive equilibrium

We discuss risked competitive partial equilibrium in a setting in which agents are endowed with coherent risk measures. In contrast to social planning models, we show by example that risked equilibria are not unique, even when agents' objective functions are strictly concave. We also show that standard computational methods find only a subset of the equilibria, even with multiple starting points. (C) 2017 Elsevier B.V. All rights reserved.