Communication, Credible Improvements and the Core of an Economy with Asymmetric Information
AbstractWe 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 is introduced, that requires credibility from the improvements.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by EconWPA in its series Game Theory and Information with number 9711001.
Length: 17 pages
Date of creation: 22 Nov 1997
Date of revision:
Note: Type of Document - PostScript; prepared on PC-TEX; pages: 17
Contact details of provider:
Web page: http://188.8.131.52
Asymmetric Information; Core; Common Knowledge;
Other versions of this item:
- Oscar Volij, 2000. "Communication, credible improvements and the core of an economy with asymmetric information," International Journal of Game Theory, Springer, vol. 29(1), pages 63-79.
- Volij, Oscar, 2000. "Communication, Credible Improvements and the Core of an Economy with Asymmetric Information," Staff General Research Papers 5140, Iowa State University, Department of Economics.
- Oscar Volij, 1998. "Communication, Credible Improvements and the Core of an Economy with Asymmetric Information," Economic theory and game theory 006, Oscar Volij, revised 15 Sep 1999.
- C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
This paper has been announced in the following NEP Reports:
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Paul Milgrom & Nancy L.Stokey, 1979.
"Information, Trade, and Common Knowledge,"
377R, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Sergiu Hart & Yair Tauman, 1997.
"Market Crashes Without External Shocks,"
Game Theory and Information
9703009, EconWPA, revised 23 Apr 1997.
- Bernheim, B. Douglas & Peleg, Bezalel & Whinston, Michael D., 1987. "Coalition-Proof Nash Equilibria I. Concepts," Journal of Economic Theory, Elsevier, vol. 42(1), pages 1-12, June.
- Vohra, Rajiv, 1999.
"Incomplete Information, Incentive Compatibility, and the Core,"
Journal of Economic Theory,
Elsevier, vol. 86(1), pages 123-147, May.
- Rajiv Vohra, 1997. "Incomplete Information, Incentive Compatibility and the Core," Working Papers 97-11, Brown University, Department of Economics.
- Bengt Holmstrom & Roger B. Myerson, 1981.
"Efficient and Durable Decision Rules with Incomplete Information,"
495, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Holmstrom, Bengt & Myerson, Roger B, 1983. "Efficient and Durable Decision Rules with Incomplete Information," Econometrica, Econometric Society, vol. 51(6), pages 1799-819, November.
- Dutta, Bhaskar & Vohra, Rajiv, 2005.
"Incomplete information, credibility and the core,"
Mathematical Social Sciences,
Elsevier, vol. 50(2), pages 148-165, September.
- Rajiv Vohra & Bhaskar Dutta, 2003. "Incomplete Information, Credibility and the Core," Working Papers 2003-21, Brown University, Department of Economics.
- Bhaskar Dutta & Rajiv Vohra, 2001. "Incomplete Information, Credibility and the Core," Working Papers 2001-02, Brown University, Department of Economics.
- Ray, Debraj, 1989. "Credible Coalitions and the Core," International Journal of Game Theory, Springer, vol. 18(2), pages 185-87.
- John Geanakoplos & Heracles M. Polemarchakis, 1982. "We Can't Disagree Forever," Cowles Foundation Discussion Papers 639, Cowles Foundation for Research in Economics, Yale University.
- Stefan KRASA, 1997. "Efficiency with Incomplete Information," Vienna Economics Papers vie9707, University of Vienna, Department of Economics.
- Geanakoplos, John D. & Polemarchakis, Heraklis M., 1982. "We can't disagree forever," Journal of Economic Theory, Elsevier, vol. 28(1), pages 192-200, October.
This item has more than 25 citations. To prevent cluttering this page, these citations are listed on a separate page. reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (EconWPA).
If references are entirely missing, you can add them using this form.