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Core and equilibria under ambiguity

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This paper introduces new core and Walrasian equilibrium notions for an asymmetric information economy with non-expected utility preferences. We prove existence and incentive compatibility results for the notions we introduce. We also discuss a framework for ex ante, interim and ex post preferences.

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Authors and Affiliations

  1. Department of Managerial Economics and Decision Sciences, Northwestern University, Evanston, IL, 60208, USA

    Luciano I. de Castro

  2. Dipartimento di Matematica e Statistica and CSEF, Universitá di Napoli Federico II, 81026, Napoli, Italy

    Marialaura Pesce

  3. Economics—School of Social Sciences, The University of Manchester, Oxford Road, Manchester, M13 9PL, UK

    Nicholas C. Yannelis

Authors
  1. Luciano I. de Castro
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  2. Marialaura Pesce
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  3. Nicholas C. Yannelis
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Corresponding author

Correspondence to Luciano I. de Castro.

Additional information

We are grateful to Monique Florenzano, Maria Gabriella Graziano and Fabio Maccheroni for very helpful comments.

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de Castro, L.I., Pesce, M. & Yannelis, N.C. Core and equilibria under ambiguity. Econ Theory 48, 519–548 (2011). https://doi.org/10.1007/s00199-011-0637-3

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  • DOI: https://doi.org/10.1007/s00199-011-0637-3

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