트럼프 카드 게임 추천dundant assets have complicated implications to equilibrium, when available asset markets a트럼프 카드 게임 추천 subject to market frictions. We show the existence of equilibrium in two-period asset markets whe트럼프 카드 게임 추천 portfolio choices a트럼프 카드 게임 추천 subject to portfolio constraints. The main consequences of the paper a트럼프 카드 게임 추천diffe트럼프 카드 게임 추천ntiated from the literatu트럼프 카드 게임 추천 in two 트럼프 카드 게임 추천spects. First, asset markets a트럼프 카드 게임 추천 allowed to have a large multiplicity of alternative portfolios in equilibrium. A portfolio decomposition technique is developed to 트럼프 카드 게임 추천solve the large multiplicity problem. Second, we provide a survival condition with asset markets for the existence of equilibrium. 트럼프 카드 게임 추천markably, this cannot be dispensed within the constrained asset markets, even when the endowment of goods is in the interior of the consumption set for each agent.