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Communication, Credible Improvements and the Core of an Economy with Asymmetric Information

  • Oscar Volij

    (Brown University)

We analyze an economy with asymmetric information and endogenize the possibilities for information transmission between members of a coalition. We then define a concept of the Core that takes into account these communication possibilities. The internal consistency of the improvements is considered and an Internally Consistent Core is introduced, that requires credibility from the improvements.

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Paper provided by EconWPA in its series Game Theory and Information with number 9711001.

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Length: 17 pages
Date of creation: 22 Nov 1997
Date of revision:
Handle: RePEc:wpa:wuwpga:9711001
Note: Type of Document - PostScript; prepared on PC-TEX; pages: 17
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  1. Rajiv Vohra & Bhaskar Dutta, 2003. "Incomplete Information, Credibility and the Core," Working Papers 2003-21, Brown University, Department of Economics.
  2. Sergiu Hart & Yair Tauman, 1997. "Market Crashes Without External Shocks," Game Theory and Information 9703009, EconWPA, revised 23 Apr 1997.
  3. Geanakoplos, John D. & Polemarchakis, Heraklis M., 1982. "We can't disagree forever," Journal of Economic Theory, Elsevier, vol. 28(1), pages 192-200, October.
  4. Paul Milgrom & Nancy L.Stokey, 1979. "Information, Trade, and Common Knowledge," Discussion Papers 377R, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  5. Bengt Holmstrom & Roger B. Myerson, 1981. "Efficient and Durable Decision Rules with Incomplete Information," Discussion Papers 495, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  6. Ray, Debraj, 1989. "Credible Coalitions and the Core," International Journal of Game Theory, Springer, vol. 18(2), pages 185-87.
  7. Rajiv Vohra, 1997. "Incomplete Information, Incentive Compatibility and the Core," Working Papers 97-11, Brown University, Department of Economics.
  8. Bernheim, B. Douglas & Peleg, Bezalel & Whinston, Michael D., 1987. "Coalition-Proof Nash Equilibria I. Concepts," Journal of Economic Theory, Elsevier, vol. 42(1), pages 1-12, June.
  9. John Geanakoplos & Heracles M. Polemarchakis, 1982. "We Can't Disagree Forever," Cowles Foundation Discussion Papers 639, Cowles Foundation for Research in Economics, Yale University.
  10. Stefan KRASA, 1997. "Efficiency with Incomplete Information," Vienna Economics Papers vie9707, University of Vienna, Department of Economics.
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