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The Connection Between Correlated and Sunspot Equilibria Revisited

Author

Listed:
  • Davila, J.

Abstract

This paper shows how to make hold the conjecture stated in Maskin an Tirole about the existence of a close connection between the finite, markovian stationary equilibria of a simple overlapping generations economy and the correlated equilibria of an associated finite exchange economy with extrinsic uncertainty but asymmetric information about it.

Suggested Citation

  • Davila, J., 1999. "The Connection Between Correlated and Sunspot Equilibria Revisited," Papiers d'Economie Mathématique et Applications 1999.78, Université Panthéon-Sorbonne (Paris 1).
  • Handle: RePEc:fth:pariem:1999.78
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    Cited by:

    1. Julio Dávila, "undated". "Reducing Overlapping Generations Economies to Finite Economies," Penn CARESS Working Papers 9819996a2b80f99a81bf1509c, Penn Economics Department.
    2. Davila, Julio, 2001. "Time and Uncertainty in Overlapping Generations Economies," Journal of Economic Theory, Elsevier, vol. 100(2), pages 356-386, October.

    More about this item

    Keywords

    INFORMATION ; ECONOMICS ; MATHEMATICAL ANALYSIS;

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations

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