Before revision:  The models are based on finitely many investors with heterogeneous exponential utilities over intermediate consumption who receive partially unspanned income . The investors can trade continuously on a finite time interval in a money market account as well as a risky security.
After revision:  The models are based on finitely many investors with heterogeneous exponential utilities over intermediate consumption who receive partially unspanned income and can trade continuously on a finite time interval in a money market account as well as a risky security.