Private Information: Similarity as Compatibility
We investigate the continuity of equilibrium in differential information economies with a finite number of agents. In this setting, agents can make contingent contracts based on events that are commonly observed. With private information modelled as finite partitions of a compact and metrizable space of states of nature, we introduce a topology on information that takes into account the compatibility of information fields in assessing similarity between private information fields. This topology allows us to establish upper semicontinuity of the private core correspondence.
(This abstract was borrowed from another version of this item.)
Volume (Year): 30 (2007)
Issue (Month): 3 (March)
|Contact details of provider:|| Web page: http://link.springer.de/link/service/journals/00199/index.htm |
|Order Information:||Web: http://link.springer.de/orders.htm|
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.:
- Hildenbrand, W & Mertens, J F, 1972.
"Upper Hemi-Continuity of the Equilibrium-Set Correspondence for Pure Exchange Economies,"
Econometric Society, vol. 40(1), pages 99-108, January.
- HILDENBRAND, Werner & MERTENS, Jean-François, . "Upper hemi-continuity of the equilibrium set correspondence for pure exchange economies," CORE Discussion Papers RP -109, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Ezra Einy & Ori Haimanko & Diego Moreno & Benyamin Shitovitz, 2003.
"On The Continuity Of Equilibrium And Core Correspondences In Economies With Differential Information,"
Economics Working Papers
we032707, Universidad Carlos III, Departamento de Economía.
- Ezra Einy & Ori Haimanko & Diego Moreno & Benyamin Shitovitz, 2005. "On the continuity of equilibrium and core correspondences in economies with differential information," Economic Theory, Springer, vol. 26(4), pages 793-812, November.
- Erik Balder & Nicholas Yannelis, 2006. "Continuity properties of the private core," Economic Theory, Springer, vol. 29(2), pages 453-464, October.
- Ezra Einy & Diego Moreno & Benyamin Shitovitz, 2001. "Competitive and core allocations in large economies with differential information," Economic Theory, Springer, vol. 18(2), pages 321-332.
- Cotter, Kevin D., 1987. "Convergence of information, random variables and noise," Journal of Mathematical Economics, Elsevier, vol. 16(1), pages 39-51, February.
- Cotter, Kevin D., 1986. "Similarity of information and behavior with a pointwise convergence topology," Journal of Mathematical Economics, Elsevier, vol. 15(1), pages 25-38, February.
- Kannai, Yakar, 1970. "Continuity Properties of the Core of a Market," Econometrica, Econometric Society, vol. 38(6), pages 791-815, November.
When requesting a correction, please mention this item's handle: RePEc:spr:joecth:v:30:y:2007:i:3:p:395-407. See general 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: (Guenther Eichhorn)or (Christopher F Baum)
If references are entirely missing, you can add them using this form.