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Incentives and the core of an exchange economy: a survey

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  • Forges, Francoise
  • Minelli, Enrico
  • Vohra, Rajiv

Abstract

This paper provides a general overview of the literature on the core of an exchange economy with asymetric information. Incentive compatibility is emphasized in studying core concepts at the ex ante and the interim stage.The analysis includes issues of non emptiness of the core as wellas core convergence to price equilibrium allocations.
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  • 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.
    • Handle: RePEc:eee:mateco:v:38:y:2002:i:1-2:p:1-41
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    More about this item

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies

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