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Information and Small Group Effectiveness in Large Quasilinear Economies

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  • Yusuke Kamishiro
  • Roberto Serrano
  • Myrna Wooders

Abstract

In large quasilinear economies, we provide sufficient conditions to establish the nonemptiness of several versions of approximate interim cores with endogenous communication. This is done by proving nonemptiness of approximate ex post cores satisfying incentive compatibility. When the number of agents with private information remains finite, the main argument relies on an adaptation of the small group effectiveness condition, previously proposed for games of complete information. The result goes through when all agents are informationally small.

Suggested Citation

  • Yusuke Kamishiro & Roberto Serrano & Myrna Wooders, 2015. "Information and Small Group Effectiveness in Large Quasilinear Economies," Working Papers 2015-11, Brown University, Department of Economics.
    • Handle: RePEc:bro:econwp:2015-11
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    References listed on IDEAS

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    1. Roberto Serrano & Rajiv Vohra & Oscar Volij, 2001. "On the Failure of Core Convergence in Economies with Asymmetric Information," Econometrica, Econometric Society, vol. 69(6), pages 1685-1696, November.
    2. Serrano, Roberto & Vohra, Rajiv, 2007. "Information transmission in coalitional voting games," Journal of Economic Theory, Elsevier, vol. 134(1), pages 117-137, May.
    3. Vohra, Rajiv, 1999. "Incomplete Information, Incentive Compatibility, and the Core," Journal of Economic Theory, Elsevier, vol. 86(1), pages 123-147, May.
    4. Françoise Forges & Roberto Serrano, 2013. "Cooperative Games With Incomplete Information: Some Open Problems," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 15(02), pages 1-17.
    5. Kamishiro, Yusuke, 2011. "Informational size and the incentive compatible coarse core in quasilinear economies," Games and Economic Behavior, Elsevier, vol. 71(2), pages 513-520, March.
    6. Myerson, Roger B., 2007. "Virtual utility and the core for games with incomplete information," Journal of Economic Theory, Elsevier, vol. 136(1), pages 260-285, September.
    7. Forges, Francoise & Minelli, Enrico & Vohra, Rajiv, 2002. "Incentives and the core of an exchange economy: a survey," Journal of Mathematical Economics, Elsevier, vol. 38(1-2), pages 1-41, September.
    8. Wooders, Myrna Holtz, 1992. "Inessentiality of Large Groups and the Approximate Core Property: An Equivalence Theorem," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 2(1), pages 129-147, January.
    9. Yusuke Kamishiro & Roberto Serrano, 2011. "Equilibrium Blocking in Large Quasilinear Economies," Mathematics of Operations Research, INFORMS, vol. 36(3), pages 552-567, August.
    10. repec:dau:papers:123456789/8158 is not listed on IDEAS
    11. Volij, Oscar & Serano, Roberto & Vohra, Rajiv, 2001. "On the Failure of Core Convergence," Staff General Research Papers Archive 5098, Iowa State University, Department of Economics.
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    Cited by:

    1. Yusuke Kamishiro & Roberto Serrano & Myrna Wooders, 2021. "Monopolists of scarce information and small group effectiveness in large quasilinear economies," International Journal of Game Theory, Springer;Game Theory Society, vol. 50(4), pages 801-827, December.
    2. Yusuke Kamishiro & Roberto Serrano, 2020. "Small Informational Size and Interim Cores of Large Quasilinear Economies," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 22(01), pages 1-12, March.

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