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We study information transmission in large interim quasilinear economies using the theory of the core. We concentrate on the core with respect to equilibrium blocking, a core notion in which information is transmitted endogenously within coalitions, as blocking can be understood as an...
Persistent link: https://www.econbiz.de/10003897856
This is a brief survey describing some of the recent progress and open problems in the area of cooperative games with incomplete information. We discuss exchange economies, cooperative Bayesian games with orthogonal coalitions, and issues of cooperation in non-cooperative Bayesian games. --...
Persistent link: https://www.econbiz.de/10009272152
This is a brief survey describing some of the recent progress and open problems in the area of cooperative games with incomplete information. We discuss exchange economies, cooperative Bayesian games with orthogonal coalitions, and issues of cooperation in non-cooperative Bayesian games
Persistent link: https://www.econbiz.de/10013117753
This paper surveys implementation theory when players have incomplete or asymmetric information, especially in economic environments. After the basic problem is introduced, the theory of implementation is summarized. Some coalitional considerations for implementation problems are discussed. For...
Persistent link: https://www.econbiz.de/10012770273
In large quasilinear economies, we provide sufficient conditions to establish the nonemptiness of several versions of approximate interim cores with endogenous communication. This is done by proving nonemptiness of approximate ex post cores satisfying incentive compatibility. When the number of...
Persistent link: https://www.econbiz.de/10012970435
If the allocations of a differential information economy are defined as incentive compatible state-contingent lotteries over consumption goods, competitive equilibrium allocations exist and belong to the (ex ante incentive) core. Furthermore, any competitive equilibrium allocation can be viewed...
Persistent link: https://www.econbiz.de/10005371093
The paper analyzes the properties of cores with differential information, as economies converge to complete information. Two core concepts are investigated: the private core, in which agents' net trades are measurable with respect to agents' private information, and the incentive compatible...
Persistent link: https://www.econbiz.de/10005371166
We focus on the private core [19] of an economy with a finite number of agents with differential information, a continuum of states and an infinite number of commodities. We state a nonemptiness result for the private core and provide a proof based on a fixed-point argument.
Persistent link: https://www.econbiz.de/10005155376
This is a brief survey describing some of the recent progress and open problems in the area of cooperative games with incomplete information. We discuss exchange economies, cooperative Bayesian games with orthogonal coalitions, and issues of cooperation in non-cooperative Bayesian games.
Persistent link: https://www.econbiz.de/10009278195
We study information transmission in large interim quasilinear economies using the theory of the core. We concentrate on the core with respect to equilibrium blocking, a core notion in which information is transmitted endogenously within coalitions, as blocking can be understood as an...
Persistent link: https://www.econbiz.de/10014203061