Economic literature and experimental findings consistently demonstrate that complete markets facilitate optimal risk sharing, though individual deviations from rationality can sometimes affect welfare outcomes.
The retrieved papers examine financial markets with complete market assumptions and confirm the theoretical and experimental connection between complete markets and optimal risk sharing. Paper [0] explicitly states that complete financial markets allow for optimal risk sharing. Papers [4] and [5] experimentally study risk sharing specifically in complete markets. There are no papers refuting this fundamental economic relationship.