The ex ante incentive compatible core in the absence of wealth effects

In a differencial economy with quasi-linear utilities, monetary transfers facilitate the fulfilment of incentive compability constraints: the associated ex ante core is generically nonempty. However, we exhibit a well-behaved exchange economy in which this core is empty, even if goods are allocated through random mechanisms.

MoreLess

Year of publication:	2001
Authors:	Forges, Françoise ; Mertens, Jean-François ; Vohra, Rajiv
Publisher:	Providence, RI : Brown University, Department of Economics
Subject:	Core \| Asymmetrische Information \| Allgemeines Gleichgewicht \| Ökonomischer Anreiz \| Vermögenseffekt \| Theorie \| exchange economy \| asymmetric information \| incentive compability \| ex ante \| transferable utility \| absence of wealth effects : quasi-linear

freely available

Full text |

More access options

Check Google Scholar

In German libraries (KVK)

I need help

More details

Series:	Working Paper ; 2001-01
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	323833500 [GVK] hdl:10419/80101 [Handle]
Source:	EconStor

Persistent link: https://www.econbiz.de/10010318871