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.
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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
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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
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