The core of economies with asymmetric information [electronic resource] / Ulrich Schwalbe.
The book studies the core of exchange and production economies in which agents are asymmetrically informed about states of nature. Information is modelled as part of the commodity space. When an agent joins a coalition, his information may change according to an information rule. It is shown that fo...
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| Online Access: |
Full Text (via Springer) |
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| Main Author: | |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Berlin ; New York :
Springer,
©1999.
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| Series: | Lecture notes in economics and mathematical systems ;
474. |
| Subjects: |
| Summary: | The book studies the core of exchange and production economies in which agents are asymmetrically informed about states of nature. Information is modelled as part of the commodity space. When an agent joins a coalition, his information may change according to an information rule. It is shown that for exchange as well as for production economies - given that the production technology satisfies a regularity condition - the core is non-empty, i.e. even in the case of asymmetric information there exist allocations unblocked by any coalition. |
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| Physical Description: | 1 online resource (ix, 141 pages) : illustrations. |
| Bibliography: | Includes bibliographical references and index. |
| ISBN: | 9783642584770 3642584772 |
| ISSN: | 0075-8442 ; |