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Information transmission in coalitional voting games

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  • Serrano, Roberto
  • Vohra, Rajiv

Abstract

A core allocation of a complete information economy can be characterized as one that would not be unanimously rejected in favor of another feasible alternative by any coalition. We use this test of coalitional voting in an incomplete information environment to formalize a notion of resilience. Since information transmission is implicit in the Bayesian equilibria of such voting games, this approach makes it possible to derive core concepts in which the transmission of information among members of a coalition is endogenous. Our results lend support to the credible core of Dutta and Vohra (2003) and the core proposed by Myerson (2003) as two that can be justified in terms of coalitional voting.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Economic Theory.

Volume (Year): 134 (2007)
Issue (Month): 1 (May)
Pages: 117-137

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Handle: RePEc:eee:jetheo:v:134:y:2007:i:1:p:117-137

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Web page: http://www.elsevier.com/locate/inca/622869

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References

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  1. Rajiv Vohra & Bhaskar Dutta, 2003. "Incomplete Information, Credibility and the Core," Working Papers 2003-21, Brown University, Department of Economics.
  2. Roger Myerson, 2004. "Virtual utility and the core for games with incomplete information," Econometric Society 2004 North American Summer Meetings 659, Econometric Society.
  3. Darin Lee & Oscar Volij, 1997. "The Core of Economies with Asymmetric Information: An Axiomatic Approach," Economic theory and game theory 005, Oscar Volij.
  4. Oscar Volij, 2000. "Communication, credible improvements and the core of an economy with asymmetric information," International Journal of Game Theory, Springer, vol. 29(1), pages 63-79.
  5. Forges, Françoise & Mertens, Jean-François & Vohra, Rajiv, 2002. "The ex ante incentive compatible core in the absence of wealth effects," Economics Papers from University Paris Dauphine 123456789/5454, Paris Dauphine University.
  6. Roger B. Myerson, 1981. "Mechanism Design by an Informed Principal," Discussion Papers 481, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  7. Francoise Forges & Enrico Minelli & Rajiv Vohra, 2000. "Incentives and the Core of an Exchange Economy: A Survey," Working Papers 2000-22, Brown University, Department of Economics.
  8. Holmstrom, Bengt & Myerson, Roger B, 1983. "Efficient and Durable Decision Rules with Incomplete Information," Econometrica, Econometric Society, vol. 51(6), pages 1799-819, November.
  9. Perry, M. & Rany, P., 1992. "A Non-Cooperative View of Coalition Formation and the Core," UWO Department of Economics Working Papers 9203, University of Western Ontario, Department of Economics.
  10. Rajiv Vohra, 1997. "Incomplete Information, Incentive Compatibility and the Core," Working Papers 97-11, Brown University, Department of Economics.
  11. de Clippel, Geoffroy, 2007. "The type-agent core for exchange economies with asymmetric information," Journal of Economic Theory, Elsevier, vol. 135(1), pages 144-158, July.
  12. DE CLIPPEL, Geoffroy & MINELLI, Enrico, . "Two remarks on the inner core," CORE Discussion Papers RP -1763, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  13. Wilson, Robert B, 1978. "Information, Efficiency, and the Core of an Economy," Econometrica, Econometric Society, vol. 46(4), pages 807-16, July.
  14. Cramton, Peter C. & Palfrey, Thomas R., 1990. "Ratifiable Mechanisms: Learning from Disagreement," Working Papers 731, California Institute of Technology, Division of the Humanities and Social Sciences.
  15. Maskin, Eric & Tirole, Jean, 1992. "The Principal-Agent Relationship with an Informed Principal, II: Common Values," Econometrica, Econometric Society, vol. 60(1), pages 1-42, January.
  16. Roberto Serrano & Rajiv Vohra, 1997. "Non-cooperative implementation of the core," Social Choice and Welfare, Springer, vol. 14(4), pages 513-525.
  17. Qin Cheng-Zhong, 1993. "The Inner Core and the Strictly Inhibitive Set," Journal of Economic Theory, Elsevier, vol. 59(1), pages 96-106, February.
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Citations

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Cited by:
  1. Geoffroy de Clippel, 2004. "The Type-Agent Core for Exchange Economies with Asymmetric Information," Working Papers 2004-18, Brown University, Department of Economics.
  2. Qingmin Liu & George J. Mailath & Andrew Postlewaite & Larry Samuelson, 2012. "Stable Matching with Incomplete Information, Second Version," PIER Working Paper Archive 13-028, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 17 Jun 2013.
  3. Kamishiro, Yusuke, 2011. "Informational size and the incentive compatible coarse core in quasilinear economies," Games and Economic Behavior, Elsevier, vol. 71(2), pages 513-520, March.
  4. Yusuke Kamishiro & Roberto Serrano, 2009. "Equilibrium blocking in large quasilinear economies," Working Papers 2009-12, Instituto Madrileño de Estudios Avanzados (IMDEA) Ciencias Sociales.
  5. Yusuke Kamishiro & Roberto Serrano, 2008. "Information transmission and core convergence in quasilinear economies," Working Papers 2008-01, Instituto Madrileño de Estudios Avanzados (IMDEA) Ciencias Sociales.
  6. Françoise Forges & Roberto Serrano, 2011. "Cooperative games with incomplete information: Some open problems," Working Papers 2011-14, Instituto Madrileño de Estudios Avanzados (IMDEA) Ciencias Sociales.
  7. Okada, Akira, 2012. "Non-cooperative bargaining and the incomplete informational core," Journal of Economic Theory, Elsevier, vol. 147(3), pages 1165-1190.

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