Roy Radner (June 29, 1927 – October 6, 2022)[1][2] was Leonard N. Stern School Professor of Business at New York University.
Radner's research interests included strategic analysis of climate change, bounded rationality, game-theoretic models of corruption, pricing of information goods and statistical theory of data mining.
The first consequence of such a requirement is that budget sets do not fill the available space and are typically smaller than hyperplanes.
Both happen to fail to hold generically: the first theorem of welfare economics is hence the first victim of incompleteness.
[14] This was not possible in the traditional complete market general equilibrium model as any contingent claim could be replicated by trading and financial innovation would have no real effect.