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Erschienen in:
2005 | OriginalPaper | Buchkapitel
Incentive compatibility and information superiority of the core of an economy with differential information
verfasst von : Leonidas C. Koutsougeras, Nicholas C. Yannelis
Erschienen in: Differential Information Economies
Verlag: Springer Berlin Heidelberg
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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: (i) coalitionally incentive compatible, i.e., does truthful revelation of information in each coalition occur; and (ii) 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 three core notions is provided.