Core concepts in economies where information is almost complete (Q5953040): Difference between revisions

The authors study the properties of cores with differential information when the economies converge to complete information. In this context are investigated the private core where agents' net trades are measurable with respect to agents' private information and the incentive compatible core in which the coalitions of agents are restricted to incentive compatible allocations. Thus, the private core exists, it takes informational asymmetries into account, being incentive compatible. The main result for the private core remains also valid for the coarse core.