We compare the family of rational expectation equilibria with the ex-post Aubin core allocations in the framework of economies with uncertainty and asymmetric information. We obtain this result in a very general setting: an arbitrary space of agents and an infinite dimensional commodity space. We also present a characterization of the ex-post Aubin core by allocations belonging to the core of the associated complete information economies, and we use a suitable definition of Edgeworth equilibria to characterize the family of rational expectation equilibria. Moreover, we study some generalizations of the ex-post Aubin core obtained by making some restriction on the families of blocking coalitions.

Some new characterization of rational expectation equilibria in economies with asymmetric information

DE SIMONE, ANNA;TARANTINO, CIRO
2010

Abstract

We compare the family of rational expectation equilibria with the ex-post Aubin core allocations in the framework of economies with uncertainty and asymmetric information. We obtain this result in a very general setting: an arbitrary space of agents and an infinite dimensional commodity space. We also present a characterization of the ex-post Aubin core by allocations belonging to the core of the associated complete information economies, and we use a suitable definition of Edgeworth equilibria to characterize the family of rational expectation equilibria. Moreover, we study some generalizations of the ex-post Aubin core obtained by making some restriction on the families of blocking coalitions.
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11588/365716
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