Communication, Credible Improvements and the Core of an Economy with Asymmetric Information

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Communication, Credible Improvements and the Core of an Economy with Asymmetric Information

Author Info

Oscar Volij (Department of Economics, Brown University, and Department of Economics, Hebrew University of Jerusalem.)

Abstract

We analyze an economy with asymmetric information and endogenize the possibilities for information transmission between members of a coalition. We then define a concept of the Core that takes into account these communication possibilities. The internal consistency of the improvements is considered and an Internally Consistent Core, which requires credibility from the improvements is introduced.

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Paper provided by Oscar Volij in its series Economic theory and game theory with number 006.

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Date of creation: 08 Sep 1998
Date of revision: 15 Sep 1999
Publication status: Published in International Journal of Game Theory 29, 63--79 (2000)
Handle: RePEc:nid:ovolij:006

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Postal: Oscar Volij, Department of Economics, Ben-Gurion University, Beer-Sheva 84105, Israel
Web page: http://volij.co.il/

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Find related papers by JEL classification:
C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information

Cited by:
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Bhaskar Dutta & Rajiv Vohra, 2001. "Incomplete Information, Credibility and the Core," Working Papers 2001-02, Brown University, Department of Economics. [Downloadable!]
Other versions:
- Rajiv Vohra & Bhaskar Dutta, 2003. "Incomplete Information, Credibility and the Core," Working Papers 2003-21, Brown University, Department of Economics. [Downloadable!]
- Dutta, Bhaskar & Vohra, Rajiv, 2005. "Incomplete information, credibility and the core," Mathematical Social Sciences, Elsevier, vol. 50(2), pages 148-165, September. [Downloadable!] (restricted)
Roberto Serrano & Rajiv Vohra, 2005. "Information Transmission in Coalitional Voting Games," Economics Working Papers 0050, Institute for Advanced Study, School of Social Science. [Downloadable!]
Other versions:
- Roberto Serrano & Rajiv Vohra, 2005. "Information Transmission In Coalitional Voting Games," Economics Working Papers we055726, Universidad Carlos III, Departamento de Economía. [Downloadable!]
- Rajiv Vohra & Roberto Serrano, 2004. "Information Transmission in Coalitional Voting Games," Econometric Society 2004 North American Summer Meetings 519, Econometric Society.
- Roberto Serrano & Rajiv Vohra, 2005. "Information Transmission in Coalitional Voting Games," Working Papers 2005-01, Brown University, Department of Economics. [Downloadable!]
- Serrano, Roberto & Vohra, Rajiv, 2007. "Information transmission in coalitional voting games," Journal of Economic Theory, Elsevier, vol. 134(1), pages 117-137, May. [Downloadable!] (restricted)
Francoise Forges & Jean-Francois Mertens & Rajiv Vohra, 2001. "The Ex Ante Incentive Compatible Core in the absence of wealth effects," Working Papers 2001-01, Brown University, Department of Economics. [Downloadable!]
Other versions:
- FORGES, Franoise & MERTENS, Jean-Franois & VOHRA, Rajiv, 2001. "The ex ante incentive compatible core in the absence of wealth effects," CORE Discussion Papers 2001001, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE). [Downloadable!]
- Francoise Forges & Jean-Francois Mertens & Rajiv Vohra, 2002. "The Ex Ante Incentive Compatible Core in the Absence of Wealth Effects," Econometrica, Econometric Society, vol. 70(5), pages 1865-1892, September. [Downloadable!] (restricted)
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. [Downloadable!]
Other versions:
- FORGES, Franoise & 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). [Downloadable!]
- Forges, Francoise & Minelli, Enrico & Vohra, Rajiv, 2002. "Incentives and the core of an exchange economy: a survey," Journal of Mathematical Economics, Elsevier, vol. 38(1-2), pages 1-41, September. [Downloadable!] (restricted)

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