In an economy with asymmetric information, Rational Expectations Equilibria (REE) need not become asymptotically …

allow information sharing is also proposed. The paper focus on ex post efficient cartel mechanisms which allows monetary … transfers between members, and show the assumption of affiliation does not discourage collusion and that information sharing is …

asymmetric information between regulatory agencies and regulated firms. …

This paper studies the incentives of short-lived agents to acquire costly private information in the presence of public … signals arising from market interaction. It characterizes the social learning process, that is the revelation of information … by public signals, and the information externalities involved. The analysis provides insights on the scope for government …

Asymmetric information concerns either commodities or mutually exclusive states of the world. The notion of competitive … asymmetric information concerning mutually exclusive states of the world, where it is important whether trades are enforceable … and whether trades occur before or after individuals receive private information. In either case, competitive equilibria …