We point out several conceptual difficulties of the rational expectations equilibrium concept. In particular we show that such an equilibrium need not be incentive compatible and need not be implementable as a perfect Bayesian equilibrium . A comparison of rational expectations equilibria with...

In the context of differential information economies, with and without free disposal, we consider the concepts of Radner equilibrium, rational expectations equilibrium, private core, weak fine core and weak fine value. We look into the possible implementation of these concepts as perfect...

Advances in the field of economics and psychology have contributed greatly to the understanding of the supply of information when it affects the emotions and consequently the decisions made by two parties. Yet, these studies assume that the parties have identical utilities. In this article,...