>) core characterizations of a continuum economy may fail in this general informational setting. However, under mild …

accept/reject certain proposals. The set of equilibrium outcomes is identified as the core if F’s opponents can pre …-commit and as the convex hull of the core if they cannot pre-commit credibly. This extended model eliminates two flaws of the …

strong sequential core of such an economy consists of those consumption streams that can be improved upon by no coalition at … no moment of time. Non-emptiness of the strong sequential core is established given a high enough discount factor …. Moreover, sufficient conditions are given under which the strong sequential core contains only time and history independent …

diversification." We show that this implies that the core of the capacity is non-empty. The converse holds under concavity of the … equivalent to non-empty core. In the expected utility model, all these notions of diversification are equivalent and are …

This paper examines the ex ante core of a pure exchange economy with asymmetric information in which state … core with nontransferable utility is empty; the game fails to be balanced because convex combinations of incentive … resulting cooperative games are balanced. In this framework, an incentive compatible core concept is defined for NTU games …

over consumption goods, competitive equilibrium allocations exist and belong to the (ex ante incentive) core. Furthermore …, any competitive equilibrium allocation can be viewed as an element of the core of the n-fold replicated economy, for every …

It is shown that core-Walras equivalence fails whenever the commodity space is a non-separable Banach space. The … interpretation is that a large number of agents guarantees core-Walras equivalence only if there is actually a large number of agents … extremely dispersed, so that the standard theory of perfect competition fails. Supplementing the core-Walras non …