Blocking efficiency in an economy with asymmetric information
AbstractIn this paper, we study a pure exchange atomless economy with asymmetric information and having an ordered Banach space with an interior point in its positive cone as the commodity space. An extension of the main theorem in Vind (1972) to the private core without free disposal is established. As a particular case of this result, a solution to a problem mentioned in Pesce (2010) is derived.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Mathematical Economics.
Volume (Year): 48 (2012)
Issue (Month): 6 ()
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Web page: http://www.elsevier.com/locate/jmateco
Asymmetric information economy; Coarse core; Core; Fine core; Private core; Walrasian expectations allocation;
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