Showing 1 - 10 of 63,850
We provide nonemptiness results of approximate interim cores with endogenous communication in large quasilinear economies, where every agent's informational size is small. We offer results for both replica and more general sequences of economies.
Persistent link: https://www.econbiz.de/10011890497
In large quasilinear economies, we provide sufficient conditions to establish the nonemptiness of several versions of approximate interim cores with endogenous communication. This is done by proving nonemptiness of approximate ex post cores satisfying incentive compatibility. When the number of...
Persistent link: https://www.econbiz.de/10011405139
In large quasilinear economies, we provide sufficient conditions to establish the nonemptiness of several versions of approximate interim cores with endogenous communication. This is done by proving nonemptiness of approximate ex post cores satisfying incentive compatibility. When the number of...
Persistent link: https://www.econbiz.de/10011526721
This paper surveys implementation theory when players have incomplete or asymmetric information, especially in economic environments. After the basic problem is introduced, the theory of implementation is summarized. Some coalitional considerations for implementation problems are discussed. For...
Persistent link: https://www.econbiz.de/10012770273
This paper provides a noncooperative approach to core stability in an economy with incomplete information. The analysis covers general exchange economies, although our tightest results hold when effective coalitions consist of at most two players, as in matching. We study the perfect Bayesian...
Persistent link: https://www.econbiz.de/10013297636
This paper provides a general overview of the literature on the core of an exchange economy with asymmetric information. Incentive compatibility is emphasized in studying core concepts at the ex ante and interim stage. The analysis includes issues of non-emptiness of the core as well as core...
Persistent link: https://www.econbiz.de/10010318870
An appropriate (interim) notion of the core for an economy with incomplete information depends on the amount of information that coalitions can share. The coarse and fine core, as originally defined by Wilson (1978), correspond to two polar cases, involving no information sharing and arbitrary...
Persistent link: https://www.econbiz.de/10010318931
An exchange economy with asymmetrically  informed agents is considered with an exogenous rule that regulates  the information sharing among agents. For it, the notion of stable  sets à la Von Neumann and Morgenstern is analyzed. Two different  frameworks are taken into account as regards...
Persistent link: https://www.econbiz.de/10010801003
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. However, we exhibit a wellbehaved exchange economy in which this core is empty, even if...
Persistent link: https://www.econbiz.de/10005043580
This paper provides a general overview of the literature on the core of an exchange economy with asymetric information. Incentive compatibility is emphasized in studying core concepts at the ex ante and the interim stage.The analysis includes issues of non emptiness of the core as wellas core...
Persistent link: https://www.econbiz.de/10005008294