Characterization and incentive compatibility of Walrasian expectations equilibrium in infinite dimensional commodity spaces (Q2486958)

In this paper two different characterizations of Radner equilibria (= Walrasian expectations equilibria) in differential information economies are proved. The point is, that these results hold in infinite dimensional commodity spaces (more exactly, in the space of all bounded sequences). The first result deals with allocations not privately dominated (blocked) by the grand coalition, the second result uses an extension of Aubin's so-called fuzzy veto mechanism in order to define blocking of allocations. Finally the Bayesian incentive compatibility of the Radner equilibria is analyzed.