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Question of to points) An Arrow-Debreu equilibrium is defined as a Walrasian equilbrium in all forward (time zero) markets and all spot markets simultaneously in

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Question of to points) An Arrow-Debreu equilibrium is defined as a Walrasian equilbrium in all forward ("time zero") markets and all spot markets simultaneously in all forward ("time zero") markets in all spot markets as long as there is some asset that has a forward market v in spot markets only

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