symposium articles: Competitive and core allocations in large economies with differential information

Ezra Einy, Diego Moreno () and Benyamin Shitovitz

Economic Theory, 2001, vol. 18, issue 2, pages 321-332

Abstract: We study the core and competitive allocations in exchange economies with a continuum of traders and differential information. We show that if the economy is "irreducible", then a competitive equilibrium, in the sense of Radner (1968, 1982), exists. Moreover, the set of competitive equilibrium allocations coincides with the "private core" (Yannelis, 1991). We also show that the "weak fine core" of an economy coincides with the set of competitive allocations of an associated symmetric information economy in which the traders information is the joint information of all the traders in the original economy.

Keywords: General equilibrium in large economies with differential information; Private core; Weak fine core. (search for similar items in EconPapers)
JEL-codes: D50 D82 (search for similar items in EconPapers)
Date: 2001-05-08

Downloads: (external link)
http://link.springer.de/link/service/journals/00199/papers/1018002/10180321.pdf (application/pdf)
Access to the full text of the articles in this series is restricted

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:spr:joecth:v:18:y:2001:i:2:p:321-332

Ordering information: This journal article can be ordered from
http://link.springer.de/orders.htm

Access Statistics for this article

Economic Theory is edited by Nichoals Yanneils

More articles in Economic Theory from Springer
Series data maintained by Christopher F Baum ().