Incentive Compatible Core and Competitive Equilibria in Differential Information Economics
AbstractIf the allocation 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 as an element of the core of the n-fold replicated economy, for every n. The converse holds under the further assumption of independent private values but not in general, as shown by a counter-example.
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Bibliographic InfoPaper provided by Paris X - Nanterre, U.F.R. de Sc. Ec. Gest. Maths Infor. in its series Papers with number 99-06.
Date of creation: 1999
Date of revision:
Contact details of provider:
Postal: THEMA, Universite de Paris X-Nanterre, U.F.R. de science economiques, gestion, mathematiques et informatique, 200, avenue de la Republique 92001 Nanterre CEDEX.
GAME THEORY ; INFORMATION U.F.R. de science economiques; gestion; mathematiques et informatique; 200; avenue de la Republique 9 2001 Nanterre CEDEX. 24p.;
Other versions of this item:
- Aviad Heifetz & Françoise Forges & Enrico Minelli, 2001. "Incentive compatible core and competitive equilibria in differential information economies," Economic Theory, Springer, vol. 18(2), pages 349-365.
- Forges, F. & Heifetz, A. & Minelli, E., 1999. "Incentive Compatible Core and Competitive Equilibria in Differential Information Economies," Papers 34-99, Tel Aviv.
- F. Forges & A. Heifetz & E. Minelli, 1999. "Incentive compatible core and competitive equilibria in differential information economies," THEMA Working Papers 99-06, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
- C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
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