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Core and coalitional fairness: the case of information sharing rules

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  • Anuj Bhowmik

Abstract

We investigate properties of core allocations in a pure exchange asymmetric information economy whose space of agents is modelled by a mixed market and commodity space is an ordered Banach space admitting an interior point in the positive cone. The information system in our framework is the one introduced by Allen (Econ Theory 29:465–487, 2006 ). It is shown that the main results in Grodal (Econometrica 40:581–583, 1972 ), Schmeidler (Econometrica 40:579–580, 1972 ) and Vind (Econometrica 40:585–586, 1972 ) can be established in our model. As a consequence of one of these results, the main result in Hervés-Beloso et al. (Econ Thoery 55:545–563, 2014 ) is obtained in our framework. Finally, we prove that core allocations are coalitionally fair and incentive compatible. Copyright Springer-Verlag Berlin Heidelberg 2015

Suggested Citation

  • Anuj Bhowmik, 2015. "Core and coalitional fairness: the case of information sharing rules," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 60(3), pages 461-494, November.
  • Handle: RePEc:spr:joecth:v:60:y:2015:i:3:p:461-494
    DOI: 10.1007/s00199-015-0892-9
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    Cited by:

    1. Bhowmik, Anuj, 2022. "On The Core Of An Economy With Arbitrary Consumption Sets And Asymmetric Information," MPRA Paper 115795, University Library of Munich, Germany.
    2. He, Wei & Yannelis, Nicholas C., 2015. "Equilibrium theory under ambiguity," Journal of Mathematical Economics, Elsevier, vol. 61(C), pages 86-95.
    3. Achille Basile & Maria Gabriella Graziano & Ciro Tarantino, 2018. "Coalitional fairness with participation rates," Journal of Economics, Springer, vol. 123(2), pages 97-139, March.
    4. Chiara Donnini & Marialaura Pesce, 2020. "Strict fairness of equilibria in asymmetric information economies and mixed markets," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 69(1), pages 107-124, February.
    5. Bhowmik, Anuj & Graziano, Maria Gabriella, 2015. "On Vind’s theorem for an economy with atoms and infinitely many commodities," Journal of Mathematical Economics, Elsevier, vol. 56(C), pages 26-36.
    6. Bhowmik, Anuj & Centrone, Francesca & Martellotti, Anna, 2019. "Coalitional extreme desirability in finitely additive economies with asymmetric information," Journal of Mathematical Economics, Elsevier, vol. 84(C), pages 83-93.
    7. Bhowmik Anuj & Gabriella Graziano Maria, 2020. "Blocking Coalitions and Fairness in Asset Markets and Asymmetric Information Economies," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 20(1), pages 1-29, January.

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    More about this item

    Keywords

    Asymmetric information economy; Coalitional fairness ; Core; Information sharing rule; D51; D82;
    All these keywords.

    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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