The core of economies with asymmetric information: An axiomatic approach

Darin Lee; Oscar Volij

doi:10.1016/S0304-4068(02)00071-X

The core of economies with asymmetric information: An axiomatic approach

Darin Lee, Oscar Volij

Research output: Contribution to journal › Article › peer-review

9 Scopus citations

Abstract

We propose two generalizations of the Davis and Maschler [Naval Res. Logistics Quart. 12 (1965) 223] reduced game property to economies with asymmetric information and apply them in the characterization of two solution concepts. One is Wilson's [Econometrica 46 (4) (1978) 807] Coarse Core and the other is a subsolution of it which we call the Coarse+Core.

Original language	English
Pages (from-to)	43-63
Number of pages	21
Journal	Journal of Mathematical Economics
Volume	38
Issue number	1-2
DOIs	https://doi.org/10.1016/S0304-4068(02)00071-X
State	Published - 1 Sep 2002
Externally published	Yes

Keywords

Coarse Core
Fine Core
Internally Consistent Core

ASJC Scopus subject areas

Economics and Econometrics
Applied Mathematics

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10.1016/S0304-4068(02)00071-X

Cite this

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abstract = "We propose two generalizations of the Davis and Maschler [Naval Res. Logistics Quart. 12 (1965) 223] reduced game property to economies with asymmetric information and apply them in the characterization of two solution concepts. One is Wilson's [Econometrica 46 (4) (1978) 807] Coarse Core and the other is a subsolution of it which we call the Coarse+Core.",

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author = "Darin Lee and Oscar Volij",

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N2 - We propose two generalizations of the Davis and Maschler [Naval Res. Logistics Quart. 12 (1965) 223] reduced game property to economies with asymmetric information and apply them in the characterization of two solution concepts. One is Wilson's [Econometrica 46 (4) (1978) 807] Coarse Core and the other is a subsolution of it which we call the Coarse+Core.

AB - We propose two generalizations of the Davis and Maschler [Naval Res. Logistics Quart. 12 (1965) 223] reduced game property to economies with asymmetric information and apply them in the characterization of two solution concepts. One is Wilson's [Econometrica 46 (4) (1978) 807] Coarse Core and the other is a subsolution of it which we call the Coarse+Core.

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KW - Internally Consistent Core

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ER -

The core of economies with asymmetric information: An axiomatic approach

Abstract

Keywords

ASJC Scopus subject areas

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