Non-myopic learning in differential information economies: The core (Q5953034)

Consider an economy with an infinite number of trading periods. The agents discount the future (hence, they are non-myopic) and endowments follow a martingale. -- The agents begin the economy with a private information set, and trades each period reveal information. The paper shows, if a learning sequence belongs to the \(\varepsilon\)-core, it has a subsequence in the non-myopic core of the full information economy. The paper also shows the converse. These results extend those of \textit{L. Koutsougeras} and \textit{N. C. Yannelis} [J. Math. Econ. 31, 373--391 (1999; Zbl 0938.91039)], and shed light on the revelation property of market equilibrium.