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Incentives and the core of an exchange economy: a survey

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  • FORGES, Françoise
  • MINELLI, Enrico
  • VOHRA, Rajiv

Abstract

This paper provides a general overview of the literature on the core of an exchange economy with asymetric information. Incentive compatibility is emphasized in studying core concepts at the ex ante and the interim stage.The analysis includes issues of non emptiness of the core as wellas core convergence to price equilibrium allocations.

Suggested Citation

  • FORGES, Françoise & MINELLI, Enrico & VOHRA, Rajiv, 2001. "Incentives and the core of an exchange economy: a survey," LIDAM Discussion Papers CORE 2001043, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvco:2001043
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    More about this item

    Keywords

    core; asymmetric information; incentive; compatibility; exchange economy;
    All these keywords.

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies

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