Castro, Luciano I. de; Yannelis, Nicholas C. - 2010 - This Version: December 2010
equilibrium with asymmetric information. This important result was obtained assuming that the individuals are expected utility … Myerson-Satterthwaite's negative result ceases to hold in our MEU framework. -- Asymmetric information ; ambiguity aversion … (efficient) allocations are not incentive compatible is a fundamental fact in information economics, mechanism design and general …