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mixed-strategy Nash equilibria, and settings in which private information, anonymity and idiosyncratic shocks are given …
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precisely, we prove a nonemptiness result of the core of an exchange economy with asymmetric information, a continuum of states …
Persistent link: https://www.econbiz.de/10005776528
We present the model of games with incomplete information first introduced by Harsanyi and show the link with extensive … form games with imperfect information. We provide then a construction of the universal type space of Mertens and Zamir …
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Symmetry of shocks across countries is often considered as a necessary condition for a monetary union. We show that the measure of shocks symmetry does not reveal a deep parameter, and depends on economic integration. The more integrated economies are, the more aysmmetric are GDPs for a given...
Persistent link: https://www.econbiz.de/10005776571
We characterize, for any model of repeated interaction with incomplete information and signals, the information that …
Persistent link: https://www.econbiz.de/10005475318
of an associated finite exchange economy with extrinsic uncertainty but asymmetric information about it. …
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