Incentive Compatibility and Information Superiority of the Core of an Economy with Differential Information

Leonidas C Koutsougeras and Nicholas C Yannelis

Economic Theory, 1993, vol. 3, issue 2, 195-216

Abstract: We analyze the coarse, the fine, and the private core allocation of an exchange economy with differential information. The basic questions that we address are whether the above concepts are: (1) coalitionally incentive compatible, i.e., does truthful revelation of information in each coalition occur; and (2) taking into account the information superiority or information advantage of an agent. Moreover, the above three concepts are examined in the presence of externalities and a comparison and interpretation of all of these core notions is provided.

Date: 1993
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