Economic Models with Infinitely Many Commodities
{'Code': '04050100', 'Directorate': {'Abbreviation': 'SBE', 'LongName': 'Direct For Social, Behav & Economic Scie'}, 'Division': {'Abbreviation': 'SES', 'LongName': 'Divn Of Social and Economic Sciences'}}
{'SignBlockName': 'Daniel H. Newlon', 'PO_EMAI': None, 'PO_PHON': None}
This project develops new economic models of markets with                       an infinite number of commodities.  These models are used to                    study monopolistic competition with large numbers of firms, the                 dynamics of financial markets under uncertainty, the foundations                of mathematical models of markets and other difficult problems in               mathematical economic theory.                                                                                                                                   More specifically, in the first part of the project a model is                  developed in which firms are sufficiently small so that each                    firm's effect on other firms is negligible, yet in equilibrium,                 active firms charge more than the perfectly competitive price and               may make positive monopoly profits.  This model would be more                   realistic than existing economic models in which the monopoly                   power of firms disappears as they become small in comparison to                 the market.                                                                                                                                                     The second part consists of the development of continuous time                  stochastic models of incomplete markets.  Stochastic models with                incomplete markets are useful because in the real world it is                   impossible to completely insure against uncertainty because many                futures and contingent claims markets are in fact missing.  The                 continuous time framework allows the investigator to relate his                 work to financial models and to address such questions as: does                 frequent trading lead to efficiency?
{'FirstName': 'William', 'LastName': 'Zame', 'PI_MID_INIT': 'R', 'PI_SUFX_NAME': None, 'PI_FULL_NAME': 'William R Zame', 'EmailAddress': 'zame@econ.ucla.edu', 'NSF_ID': '000265703', 'StartDate': '05/01/1988', 'EndDate': None, 'RoleCode': 'Principal Investigator'}
{'Name': 'SUNY at Albany', 'CityName': 'Albany', 'ZipCode': '122220100', 'PhoneNumber': '5184374974', 'StreetAddress': '1400 Washington Ave MSC 312', 'StreetAddress2': None, 'CountryName': 'United States', 'StateName': 'New York', 'StateCode': 'NY', 'CONGRESSDISTRICT': '20', 'CONGRESS_DISTRICT_ORG': 'NY20', 'ORG_DUNS_NUM': '152652822', 'ORG_LGL_BUS_NAME': 'RESEARCH FOUNDATION FOR THE STATE UNIVERSITY OF NEW YORK, THE', 'ORG_PRNT_DUNS_NUM': '020657151'}
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{'Code': '1320', 'Text': 'Economics'}
{'url': 'https://www.nsf.gov/awardsearch/download?DownloadFileName=1987&All=true', 'xml': '8720966.xml'}