Incentive Compatible Core and Competitive Equilibria in Differential Information Economies
AbstractIf 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 equilibria 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 Tel Aviv in its series Papers with number 34-99.
Length: 24 pages
Date of creation: 1999
Date of revision:
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Postal: Israel TEL-AVIV UNIVERSITY, THE FOERDER INSTITUTE FOR ECONOMIC RESEARCH, RAMAT AVIV 69 978 TEL AVIV ISRAEL.
Web page: http://econ.tau.ac.il/research/foerder.asp
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ECONOMIC EQUILIBRIUM ; COMPETITION;
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.
- 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.
- FORGES, Françoise & HEIFETZ , Aviad & MINELLI, Enrico, . "Incentive compatible core and competitive equilibria in differential information economies," CORE Discussion Papers RP -1555, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Forges, Françoise & Heifetz, Aviad & Minelli, Enrico, 2001. "Incentive compatible core and competitive equilibria in differential information economies," Economics Papers from University Paris Dauphine 123456789/5451, Paris Dauphine University.
- Forges, F. & Heifetz, A. & Minelli, E., 1999. "Incentive Compatible Core and Competitive Equilibria in Differential Information Economics," Papers 99-06, Paris X - Nanterre, U.F.R. de Sc. Ec. Gest. Maths Infor..
- D00 - Microeconomics - - General - - - General
- D40 - Microeconomics - - Market Structure and Pricing - - - General
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