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The bargaining set of a large economy with differential information

In: Differential Information Economies

Author

Listed:
  • Ezra Einy

    (Ben Gurion University of the Negev)

  • Diego Moreno

    (Universidad Carlos III de Madrid)

  • Benyamin Shitovitz

    (University of Haifa)

Abstract

Summary We study the Mas-Colell bargaining set of an exchange economy with differential information and a continuum of traders. We established the equivalence of the private bargaining set and the set of Radner competitive equilibrium allocations. As for the weak fine bargaining set, we show that it contains the set of competitive equilibrium allocations of an associated symmetric information economy in which each trader has the “joint information” of all the traders in the original economy, but unlike the weak fine core and the set of fine value allocations, it may also contain allocations which are not competitive in the associated economy.

Suggested Citation

  • Ezra Einy & Diego Moreno & Benyamin Shitovitz, 2005. "The bargaining set of a large economy with differential information," Studies in Economic Theory, in: Dionysius Glycopantis & Nicholas C. Yannelis (ed.), Differential Information Economies, pages 541-552, Springer.
    • Handle: RePEc:spr:steccp:978-3-540-26979-3_28
    DOI: 10.1007/3-540-26979-7_28
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    Cited by:

    1. is not listed on IDEAS
    2. Murat Yılmaz & Özgür Yılmaz, 2022. "Stability of an allocation of objects," Review of Economic Design, Springer;Society for Economic Design, vol. 26(4), pages 561-580, December.
    3. Jiuqiang Liu, 2022. "Equivalence of Competitive Equilibria, Fuzzy Cores, and Fuzzy Bargaining Sets in Finite Production Economies," Mathematics, MDPI, vol. 10(18), pages 1-16, September.
    4. Jiuqiang Liu & Huihui Zhang, 2016. "Coincidence of the Mas-Colell bargaining set and the set of competitive equilibria in a continuum coalition production economy," International Journal of Game Theory, Springer;Game Theory Society, vol. 45(4), pages 1095-1109, November.

    More about this item

    Keywords

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    JEL classification:

    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General

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