Equilibrium theory under ambiguity
نویسندگان
چکیده
منابع مشابه
Equilibrium Theory under Ambiguity
We extend the classical results on the Walras-core existence and equivalence to an ambiguous asymmetric information economies, i.e., economies where agents maximize Maximin Expected Utility (MEU). The interest of considering ambiguity arises from the fact that, in the presence of MEU decision making, there is no conflict between efficiency and incentive compatibility, (contrary to the Bayesian ...
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ژورنال
عنوان ژورنال: Journal of Mathematical Economics
سال: 2015
ISSN: 0304-4068
DOI: 10.1016/j.jmateco.2015.08.004