# Equilibrium theory with asymmetric information and infinitely many states

## Author

Listed:
• Carlos Hervés-Beloso

()

• V. Martins-da-Rocha

()

• Paulo Monteiro

()

## Abstract

Radner (1968) proved the existence of a competitive equilibrium for differential information economies with finitely many states. We extend this result to economies with infinitely many states of nature.
(This abstract was borrowed from another version of this item.)

## Suggested Citation

• Carlos Hervés-Beloso & V. Martins-da-Rocha & Paulo Monteiro, 2009. "Equilibrium theory with asymmetric information and infinitely many states," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 38(2), pages 295-320, February.
• Handle: RePEc:spr:joecth:v:38:y:2009:i:2:p:295-320 DOI: 10.1007/s00199-008-0359-3
as

File URL: http://hdl.handle.net/10.1007/s00199-008-0359-3

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## References listed on IDEAS

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Full references (including those not matched with items on IDEAS)

## Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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Cited by:

1. João Correia-da-Silva, 2015. "Two-period economies with price-contingent deliveries," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 59(3), pages 509-525, August.
2. repec:dau:papers:123456789/2344 is not listed on IDEAS
3. He, Wei & Yannelis, Nicholas C., 2015. "Equilibrium theory under ambiguity," Journal of Mathematical Economics, Elsevier, vol. 61(C), pages 86-95.
4. Martins-da-Rocha, Victor Filipe & Angeloni, Laura, 2008. "Large economies with differential information but without free disposal," FGV/EPGE Economics Working Papers (Ensaios Economicos da EPGE) 671, FGV/EPGE - Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil).
5. Dionysius Glycopantis & Carlos Hervés-Beloso & Konrad Podczeck, 2009. "Symposium on: equilibria with asymmetric information," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 38(2), pages 217-219, February.
6. Marta Faias & Carlos Hervés-Beloso & Emma Moreno-García, 2011. "Equilibrium price formation in markets with differentially informed agents," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 48(1), pages 205-218, September.
7. Carlos Hervés-Beloso & Paulo Monteiro, 2013. "Information and $$\sigma$$ -algebras," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 54(2), pages 405-418, October.
8. João Correia-da-Silva & Carlos Hervés-Beloso, 2012. "General equilibrium in economies with uncertain delivery," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 51(3), pages 729-755, November.
9. Carlos Hervés-Beloso & Claudia Meo & Emma Moreno-García, 2014. "Information and size of coalitions," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 55(3), pages 545-563, April.
10. João Correia-da-Silva & Carlos Hervés-Beloso, 2014. "Irrelevance of private information in two-period economies with more goods than states of nature," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 55(2), pages 439-455, February.
11. repec:eee:mateco:v:74:y:2018:i:c:p:128-138 is not listed on IDEAS
12. Laura Angeloni & V. Martins-da-Rocha, 2009. "Large economies with differential information and without free disposal," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 38(2), pages 263-286, February.
13. Angeloni, Laura & Martins-da-Rocha, Victor Filipe, 2007. "Contract enforcement and incentive compatibility in large economies with differential information: the role of exact feasibility," FGV/EPGE Economics Working Papers (Ensaios Economicos da EPGE) 647, FGV/EPGE - Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil).
14. Raad, R., 2012. "Existence of an equilibrium for infinite horizon economies with and without complete information," Journal of Mathematical Economics, Elsevier, vol. 48(4), pages 247-262.
15. Klishchuk, Bogdan, 2015. "New conditions for the existence of Radner equilibrium with infinitely many states," Journal of Mathematical Economics, Elsevier, vol. 61(C), pages 67-73.

### Keywords

Asymmetric information; Continuum of states; Competitive equilibrium; Properness; D51; D82;

### JEL classification:

• D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
• D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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