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Core and coalitional fairness: the case of information sharing rules

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  • Anuj Bhowmik

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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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    References listed on IDEAS

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    1. Vind, Karl, 1972. "A Third Remark on the Core of an Atomless Economy," Econometrica, Econometric Society, vol. 40(3), pages 585-586, May.
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    11. Herves-Beloso, Carlos & Moreno-Garcia, Emma & Nunez-Sanz, Carmelo & Rui Pascoa, Mario, 2000. "Blocking Efficacy of Small Coalitions in Myopic Economies," Journal of Economic Theory, Elsevier, vol. 93(1), pages 72-86, July.
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    Citations

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    Cited by:

    1. He, Wei & Yannelis, Nicholas C., 2015. "Equilibrium theory under ambiguity," Journal of Mathematical Economics, Elsevier, vol. 61(C), pages 86-95.
    2. Achille Basile & Maria Gabriella Graziano & Ciro Tarantino, 2018. "Coalitional fairness with participation rates," Journal of Economics, Springer, vol. 123(2), pages 97-139, March.
    3. Anuj Bhowmik & Maria Gabriella Graziano, 2018. "Blocking Coalitions and Fairness in Asset Markets and Asymmetric Information Economies," CSEF Working Papers 510, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    4. 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.
    5. Bhowmik, Anuj & Centrone, Francesca & Martellotti, Anna, 2016. "Coalitional Extreme Desirability in Finitely Additive Economies with Asymmetric Information," MPRA Paper 71084, University Library of Munich, Germany.

    More about this item

    Keywords

    Asymmetric information economy; Coalitional fairness ; Core; Information sharing rule; 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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