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Private information, transferable utility, and the core

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  • S. Flåm

    ()

  • L. Koutsougeras

    ()

Abstract

Considered here are transferable-utility, coalitional production or market games, featuring differently informed players. It is assumed that personalized contracts must comply with idiosyncratic information. The setting may create two sorts of shadow prices: one for material endowments, the other for knowledge. Focus is on specific, computable solutions that are generated by such prices and belong to the private core. Solutions of that sort obtain under standard regularity assumptions.

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Bibliographic Info

Article provided by Springer in its journal Economic Theory.

Volume (Year): 42 (2010)
Issue (Month): 3 (March)
Pages: 591-609

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Handle: RePEc:spr:joecth:v:42:y:2010:i:3:p:591-609

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Related research

Keywords: Exchange economy; Cooperative game; Transferable utility; Differential information; Core; Lagrangian duality; Value of information; C62; C71; D51; D82;

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References

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  1. Forges, Francoise & Minelli, Enrico, 2001. "A Note on the Incentive Compatible Core," Journal of Economic Theory, Elsevier, vol. 98(1), pages 179-188, May.
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  13. FORGES, Françoise & MINELLI, Enrico & VOHRA, Rajiv, 2001. "Incentives and the core of an exchange economy: a survey," CORE Discussion Papers 2001043, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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  15. Allan Muir & Nicholas C. Yannelis & Dionysius Glycopantis, 2001. "An extensive form interpretation of the private core," Economic Theory, Springer, vol. 18(2), pages 293-319.
  16. Evstigneev, I.V. & Flam, S.D., 2000. "Stochastic Programming: Non-Anticipativity and Lagrange Multipliers," Norway; Department of Economics, University of Bergen 1100, Department of Economics, University of Bergen.
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Citations

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Cited by:
  1. Didrik Flåm, Sjur, 2012. "Coupled projects, core imputations, and the CAPM," Journal of Mathematical Economics, Elsevier, vol. 48(3), pages 170-176.
  2. Sjur Didrik Flåm, 2013. "Reaching Market Equilibrium Merely by Bilateral Barters," CESifo Working Paper Series 4504, CESifo Group Munich.

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