The core of economies with asymmetric information: An axiomatic approach

Darin Lee, Oscar Volij

Research output: Contribution to journalArticlepeer-review

10 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 languageEnglish
Pages (from-to)43-63
Number of pages21
JournalJournal of Mathematical Economics
Volume38
Issue number1-2
DOIs
StatePublished - 1 Sep 2002
Externally publishedYes

Keywords

  • Coarse Core
  • Fine Core
  • Internally Consistent Core

ASJC Scopus subject areas

  • Economics and Econometrics
  • Applied Mathematics

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