Private Information: Similarity as Compatibility

Joao Correia-da-Silva and Carlos Hervés-Beloso

FEP Working Papers from Universidade do Porto, Faculdade de Economia do Porto

Abstract: We investigate the continuity of equilibrium in differential information economies with a finite number of agents. In this setting, agents can make contingent contracts based on events that are commonly observed. With private information modelled as finite partitions of a compact and metrizable space of states of nature, we introduce a topology on information that takes into account the compatibility of information fields in assessing similarity between private information fields. This topology allows us to establish upper semicontinuity of the private core correspondence.

Keywords: Differential Information Economy; Asymmetric Information; Radner Equilibrium; Private Core; Topologies on Information. (search for similar items in EconPapers)
JEL-codes: C62 D50 D82 G13 (search for similar items in EconPapers)
Pages: 19 pages.
Date: 2004-09
New Economics Papers: this item is included in nep-cfn and nep-mic
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Related works:
Journal Article: Private Information: Similarity as Compatibility (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:por:fepwps:155

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