Interim Core Concepts for a Bayesian Pure Exchange Economy

The private information case of a Bayesian pure exchange economy is studied. The Bayesian incentive-compatible coarse core is proved to be nonempty. On the other hand, the Bayesian incentivecompatible interim core may be empty, even for Bayesian pure exchange economies satisfying the traditional (neoclassical) assumptions. A sufficient condition for the latter's nonemptiness is established; the condition specifies relationships among effects of different type pro-files.