Core concepts in economies where information is almost complete

Stefan Krasa and Wayne Shafer ()
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Wayne Shafer: Department of Economics, University of Illinois, 1206 South Sixth Street, Champaign, IL 61820, USA

Economic Theory, 2001, vol. 18, issue 2, 471 pages

Abstract: The paper analyzes the properties of cores with differential information, as economies converge to complete information. Two core concepts are investigated: the private core, in which agents' net trades are measurable with respect to agents' private information, and the incentive compatible core, in which coalitions of agents are restricted to incentive compatible allocations.

Keywords: Differential information; Core. (search for similar items in EconPapers)
JEL-codes: C71 D51 D82 (search for similar items in EconPapers)
Date: 2001-05-08
Note: Received: March 15, 2000; revised version: August 24, 2000
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Citations: View citations in EconPapers (7)

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