On the Core of an Economy with Differential Information
نویسندگان
چکیده
منابع مشابه
On the Core of an Economy with Differential Information
-----------------------------We show that the (interim) fine core of an atomless exchange economy with differential information is a subset of the ex-post core of the economy. Moreover, the interim fine core may be empty, and therefore it may be a proper subset of the ex-post core. The inclusion relation does not hold for economies with a finite number of traders.
متن کاملThe core of an economy with differential information
An exchange economy with differential information consists of a finite set of agents each of whom is characterized by a random utility function, a random initial endowment, a private information set and a prior. The purpose of this paper is to study the following questions: How does one define the notion of the core in an exchange economy with differential information? What is the appropriate c...
متن کاملIncentive compatibility and information superiority of the core of an economy with differential information
We analyse the coarse, the fine, and the private core allocation of an exchange economy with differential information. The basic questions that we address are whether the above concepts are: (i) coalitionally incentive compatible, i.e., does truthful revelation of information in each coalition occur; and (ii) taking into account the information superiority or information advantage of an agent. ...
متن کاملThe Value Allocation of an Economy with Differential Information
Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive o...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Economic Theory
سال: 2000
ISSN: 0022-0531
DOI: 10.1006/jeth.2000.2673