标题： 带有凸资本要求的部分均衡：存在性、唯一性和稳定性 显示英文标题

标题： Partial Equilibria with Convex Capital Requirements: Existence, Uniqueness and Stability

摘要： 在金融市场的不完全半鞅模型中，我们考虑几个风险厌恶的金融代理人，他们协商一揽子或有要求权的价格。 假设代理人的风险偏好由凸资本要求建模，我们定义并分析他们的需求函数，并提出一个部分均衡价格的概念。 除了存在性和唯一性的充分条件外，我们还证明了均衡价格对于代理人风险偏好的误设是稳定的。 显示英文摘要

摘要： In an incomplete semimartingale model of a financial market, we consider several risk-averse financial agents who negotiate the price of a bundle of contingent claims. Assuming that the agents' risk preferences are modelled by convex capital requirements, we define and analyze their demand functions and propose a notion of a partial equilibrium price. In addition to sufficient conditions for the existence and uniqueness, we also show that the equilibrium prices are stable with respect to misspecifications of agents' risk preferences.