Forges, F.; Mertens, J.-F.; Vohra, R. - Center for Operations Research and Econometrics (CORE), … - 2001
In a differential information economy with quasi-linear utilities, monetary transfers facilitate the fulfillment of incentive compatibility constraints: the associated ex ante core is generically non-empty. How ever, we exhibit a well-behaved exchange economy in which this core is empty, even if...