Rationalizable Trade
نویسندگان
چکیده
“No-trade” theorems provide sufficient conditions for the absence of equilibrium trade between asymmetrically informed players.1 In this paper, we examine when trade is rationalizable. Since rationalizability is a weaker solution concept than equilibrium, trade is sometimes rationalizable, even when there is no equilibrium trade. We provide necessary and sufficient conditions for rationalizable trade between two asymmetrically informed
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ورودعنوان ژورنال:
- Games and Economic Behavior
دوره 31 شماره
صفحات -
تاریخ انتشار 2000