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.
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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...
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ژورنال
عنوان ژورنال: Economic Theory
سال: 1991
ISSN: 0938-2259,1432-0479
DOI: 10.1007/bf01211533