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. …

information that coalitions can share. The coarse and fine core, as originally defined by Wilson (1978), correspond to two polar …An appropriate (interim) notion of the core for an economy with incomplete information depends on the amount of … cases, involving no information sharing and arbitrary information sharing, respectively. We propose a new core notion, the …

information that coalitions can share. The coarse and fine core, as originally defined by Wilson (1978), correspond to two polar …An appropriate (interim) notion of the core for an economy with incomplete information depends on the amount of … credible core, which incorporates incentive compatibility constraints, and is based on the idea that a coalition can coordinate …

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 …

information that coalitions can share. The coarse and fine core, as originally defined by Wilson (1978), correspond to two polar …An appropriate (interim) notion of the core for an economy with incomplete information depends on the amount of … cases, involving no information sharing and arbitrary information sharing, respectively. We propose a new core notion, the …

, including theorems guaranteeing that the core is nonempty. Then the basic pure exchange economy is extended to include … asymmetric information. The possibilities for such models to generate cooperative games are examined. Here the core is emphasized …

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 …

members of a coalition. We then define a concept of the Core that takes into account these communication possibilities. The … internal consistency of the improvements is considered and an Internally Consistent Core is introduced, that requires …