Showing 1 - 10 of 44
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/10010706418
We identify particular exchange economies with asymmetric information in which the ex ante incentive compatible core is … nonempty provided that coalitions can allocate goods by means of random mechanisms. Both the use of random mechanisms and the … restriction to a specific class of economies are crucial for the result. Indeed, the ex ante incentive compatible core can be …
Persistent link: https://www.econbiz.de/10010708570
This paper provides a general overview of the literature on the core of an exchange economy with asymmetric information …. Incentive compatibility is emphasized in studying core concepts at the ex ante and interim stage. The analysis includes issues … of non-emptiness of the core as well as core convergence to price equilibrium allocations. …
Persistent link: https://www.econbiz.de/10010318870
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
incomplete information. We discuss exchange economies, cooperative Bayesian games with orthogonal coalitions, and issues of …
Persistent link: https://www.econbiz.de/10009278195
incomplete information. We discuss exchange economies, cooperative Bayesian games with orthogonal coalitions, and issues of …
Persistent link: https://www.econbiz.de/10010708797
incomplete information. We discuss exchange economies, cooperative Bayesian games with orthogonal coalitions, and issues of …
Persistent link: https://www.econbiz.de/10010284071
incomplete information. We discuss exchange economies, cooperative Bayesian games with orthogonal coalitions, and issues of … ; Cooperative Games with Orthogonal Coalitions ; Non-Cooperative Bayesian Games …
Persistent link: https://www.econbiz.de/10009272152
The ex ante incentive compatible core of an exchange economy with private information is the (standard) core of a … socially designed characteristic function, which expresses the fact that coalitions allocate goods by means of random incentive … incentive compatible core can be empty, even if utility functions are quasi-linear. If, in addition to quasi-linearity, further …
Persistent link: https://www.econbiz.de/10010273735
with independent private values. The ex ante expected utilities of coalitions, at an incentive compatible (noncooperative …) coalitional equilibrium, describe a (cooperative) partition form game. A coalition is core-stable if the core of a suitable …
Persistent link: https://www.econbiz.de/10010273875