Showing 1 - 10 of 2,727
We extend Vind’s classical theorem on the measure of blocking coalitions valid in finite dimensional atomless economies … the general class of Aubin coalitions for which a suitable version of Grodal’s result (Grodal (1972)) is also formulated …. Our results wish to point out the relevance of cone conditions dealing with blocking coalitions of arbitrary measure or …
Persistent link: https://www.econbiz.de/10011191163
study of value theory and core theory. These two theories are the key to solving problems involving the allocation of goods …
Persistent link: https://www.econbiz.de/10011141073
We prove the non-emptiness of the core of an NTU game satisfying a condition of payoff-dependent balancedness, based on … transfer rate mappings. We also define a new equilibrium condition on transfer rates and we prove the existence of core payoff … vectors satisfying this condition. The additional requirement of transfer rate equilibrium refines the core concept and allows …
Persistent link: https://www.econbiz.de/10010905386
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 …
Persistent link: https://www.econbiz.de/10005371093
' private information, and the incentive compatible core, in which coalitions of agents are restricted to incentive compatible …. Two core concepts are investigated: the private core, in which agents' net trades are measurable with respect to agents …
Persistent link: https://www.econbiz.de/10005371166
of approximate core payoffs (the equal treatment property). The conditions are: (a) essential superadditivity -- an … core. …
Persistent link: https://www.econbiz.de/10009352207
A core allocation of a complete information economy can be characterized as one that would not be unanimously rejected … such voting games, this approach makes it possible to derive core concepts in which information sharing is endogenous. Our … results lend support to credible core of Dutta and Vohra (2003) and the core proposed by Myerson (2003) as two that can be …
Persistent link: https://www.econbiz.de/10005130219
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 convergence to price equilibrium allocations. …
Persistent link: https://www.econbiz.de/10005008294
We analyze the ex ante incentive compatible core for replicated private information economies. We show that any … allocation in the core when the economy is replicated sufficiently often is approximately Walrasian for the associated Arrow …
Persistent link: https://www.econbiz.de/10005109608
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 goods are allocated through random mechanisms. …
Persistent link: https://www.econbiz.de/10005043580