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  • School of Engineering, Computer and Mathematical Sciences - Te Kura Mātai Pūhanga, Rorohiko, Pāngarau
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Infinite dimensional mixed economies with asymmetric information

Bhowmik, A; Cao, J
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MPRA_paper_35618.pdf (374.4Kb)
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http://hdl.handle.net/10292/3259
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Abstract
In this paper, we study asymmetric information economies consisting of both non-negligible and negligible agents and having ordered Banach spaces as their commodity spaces. In answering a question of Hervés-Beloso and Moreno-García in [17], we establish a characterization of Walrasian expectations allocations by the veto power of the grand coalition. It is also shown that when an economy contains only negligible agents a Vind's type theorem on the private core with the exact feasibility can be restored. This solves a problem of Pesce in [20].
Keywords
Asymmetric information; Exactly feasible; Ex-post core; Mixed economy; NY-fine core; NY-private core; Robustly efficient allocation; NY-strong fine core; RW-fine core; Walrasian expectations allocation
Date
December 28, 2011
Source
Online at http://mpra.ub.uni-muenchen.de/35618/MPRA Paper No. 35618, posted 28. December 2011 / 23:48
Item Type
Commissioned Report
Publisher
Munich Personal RePEc Archive (MPRA), Munich University
Publisher's Version
http://mpra.ub.uni-muenchen.de/35618/
Rights Statement
All papers reproduced by permission. Reproduction and distribution subject to the approval of the copyright owners.

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