on the one hand and the core property of an allocation on the other. In particular we show that it is an inhomogeneous … sacrifice”) which is derived from the egalitarian-equivalent concept suggested by Moulin (1987). We also develop a simple core … test by which it can be checked whether a given allocation is in the core thus being a possible outcome of a cooperative …

The ex ante incentive compatible core of an exchange economy with private information is the (standard) core of a … incentive compatible core can be empty, even if utility functions are quasi-linear. If, in addition to quasi-linearity, further … assumptions are made (like independent private values), the non-emptiness of the core follows nevertheless from d’Aspremont and …

scale such games are quite tractable in analysis, computation, and realization. A core imputation comes in terms of …

) coalitional equilibrium, describe a (cooperative) partition form game. A coalition is core-stable if the core of a suitable …

-cost firm under incomplete information: a separating auction implies adverse selection and relies substantially on commitment to … allocation and transfer rules. A pooling auction serves as a commitment device against ex-post opportunistic behavior and … alleviates adverse selection. It can earn the investor a higher expected payoff than a separating auction, even when consistency …