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The Value Allocation of an Economy with Differential Information


  • Krasa, Stefan
  • Yannelis, Nicholas C


The authors analyze the Shapley value allocation of an economy with differential information. They address the following questions: How do coalitions of agents share their private information? How can one measure the information advantage or superiority of an agent? Is each agent's private information verifiable by other members of a coalition? Do coalitions of agents pool their private information? Do agents have an incentive to report their true private information? Do value allocations exist in an economy with differential information? The authors provide answers to each of these questions. Copyright 1994 by The Econometric Society.

Suggested Citation

  • Krasa, Stefan & Yannelis, Nicholas C, 1994. "The Value Allocation of an Economy with Differential Information," Econometrica, Econometric Society, vol. 62(4), pages 881-900, July.
  • Handle: RePEc:ecm:emetrp:v:62:y:1994:i:4:p:881-900

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    References listed on IDEAS

    1. Debreu, Gerard, 1972. "Smooth Preferences," Econometrica, Econometric Society, vol. 40(4), pages 603-615, July.
    2. Jerison, Michael, 1984. "Aggregation and pairwise aggregation of demand when the distribution of income is fixed," Journal of Economic Theory, Elsevier, vol. 33(1), pages 1-31, June.
    3. Mas-Colell, Andreu, 1974. "Continuous and smooth consumers: Approximation theorems," Journal of Economic Theory, Elsevier, vol. 8(3), pages 305-336, July.
    4. Kihlstrom, Richard E & Mas-Colell, Andreu & Sonnenschein, Hugo, 1976. "The Demand Theory of the Weak Axiom of Revealed Preference," Econometrica, Econometric Society, vol. 44(5), pages 971-978, September.
    5. Polterovich, Victor & Mityushin, Leonid, 1978. "Criteria for Monotonicity of Demand Functions," MPRA Paper 20097, University Library of Munich, Germany.
    6. John Muellbauer, 1975. "Aggregation, Income Distribution and Consumer Demand," Review of Economic Studies, Oxford University Press, vol. 42(4), pages 525-543.
    7. Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-326, June.
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