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A market game approach to differential information economies

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  • Guadalupe Fugarolas-Alvarez-Ude
  • Carlos Hervés-Beloso
  • Emma Moreno-García
  • Juan Torres-Martínez

Abstract

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Suggested Citation

  • Guadalupe Fugarolas-Alvarez-Ude & Carlos Hervés-Beloso & Emma Moreno-García & Juan Torres-Martínez, 2009. "A market game approach to differential information economies," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 38(2), pages 321-330, February.
    • Handle: RePEc:spr:joecth:v:38:y:2009:i:2:p:321-330
    DOI: 10.1007/s00199-006-0170-y
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    References listed on IDEAS

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    1. Wassim Daher & V. Martins-da-Rocha & Yiannis Vailakis, 2007. "Asset market equilibrium with short-selling and differential information," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 32(3), pages 425-446, September.
    2. Yannelis, Nicholas C, 1991. "The Core of an Economy with Differential Information," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 1(2), pages 183-197, April.
    3. Stefan Maus, 2004. "Exchange economies with asymmetric information: competitive equilibrium and core," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 24(2), pages 395-418, August.
    4. Dubey, Pradeep, 1982. "Price-Quantity Strategic Market Games," Econometrica, Econometric Society, vol. 50(1), pages 111-126, January.
    5. Shapley, Lloyd S & Shubik, Martin, 1977. "Trade Using One Commodity as a Means of Payment," Journal of Political Economy, University of Chicago Press, vol. 85(5), pages 937-968, October.
    6. Dubey, Pradeep & Geanakoplos, John, 2003. "From Nash to Walras via Shapley-Shubik," Journal of Mathematical Economics, Elsevier, vol. 39(5-6), pages 391-400, July.
    7. Nicholas C. Yannelis & Guangsug Hahn, 2001. "Coalitional Bayesian Nash implementation in differential information economies," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 18(2), pages 485-509.
    8. Dionysius Glycopantis & Allan Muir & Nicholas C. Yannelis, 2003. "On extensive form implementation of contracts in differential information economies," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 21(2), pages 495-526, March.
    9. Carlos Hervés-Beloso & Emma Moreno-García & Nicholas C. Yannelis, 2006. "Characterization and incentive compatibility of Walrasian expectations equilibrium in infinite dimensional commodity spaces," Studies in Economic Theory, in: Charalambos D. Aliprantis & Rosa L. Matzkin & Daniel L. McFadden & James C. Moore & Nicholas C. Yann (ed.), Rationality and Equilibrium, pages 119-139, Springer.
    10. Dubey, Pradeep & Shapley, Lloyd S., 1994. "Noncooperative general exchange with a continuum of traders: Two models," Journal of Mathematical Economics, Elsevier, vol. 23(3), pages 253-293, May.
    11. Schmeidler, David, 1980. "Walrasian Analysis via Strategic Outcome Functions," Econometrica, Econometric Society, vol. 48(7), pages 1585-1593, November.
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    Cited by:

    1. 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.
    2. Faias, Marta & Hervés-Beloso, Carlos & Moreno García, Emma, 2009. "A price mechanism in economies with asymmetric information," MPRA Paper 15176, University Library of Munich, Germany.
    3. Leonidas C. Koutsougeras & Claudia Meo, 2018. "An asymptotic analysis of strategic behavior for exchange economies," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 66(2), pages 301-325, August.

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    More about this item

    Keywords

    Differential information; Walrasian Expectations equilibrium; market games; C72; D51; D82;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • 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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