General Competitive Analysis in an Economy with Private Information
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Publication:3347580
DOI10.2307/2648863zbMath0558.90021OpenAlexW2127193905MaRDI QIDQ3347580
Edward C. Prescott, Robert M. Townsend
Publication date: 1984
Published in: International Economic Review (Search for Journal in Brave)
Full work available at URL: http://purl.umn.edu/55080
private informationcompetitive equilibriapure exchange economiesPareto optimal allocationsoptimal allocation of risk-bearing
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Observability and endogenous organizations ⋮ Indivisibilities, lotteries, and sunspot equilibria ⋮ An incentive efficient market for mechanisms in large Akerlof economies ⋮ Relaxed large economies with infinite-dimensional commodity spaces: the existence of Walrasian equilibria ⋮ Valuation equilibrium with clubs ⋮ Equilibria and Pareto optimal of markets with adverse selection ⋮ Randomization under ambiguity: efficiency and incentive compatibility ⋮ On Differentiated and Indivisible Commodities: An Expository Re-framing of Mas-Colell’s 1975 Model ⋮ A dual characterization of incentive efficiency. ⋮ General equilibrium in markets for lemons ⋮ Refinements and incentive efficiency in Walrasian models of insurance economies ⋮ Irrelevance of private information in two-period economies with more goods than states of nature ⋮ Normative properties of stock market equilibrium with moral hazard ⋮ General equilibrium in economies with adverse selection ⋮ Aggregation in economies with search frictions ⋮ Classical competitive analysis of economies with islands ⋮ A GAME THEORETIC FOUNDATION OF COMPETITIVE EQUILIBRIA WITH ADVERSE SELECTION ⋮ Signaling in markets with two-sided adverse selection ⋮ Power fluctuations and political economy ⋮ Information-constrained optima with retrading: an externality and its market-based solution ⋮ A note on the incentive compatible core ⋮ (Neutrally) optimal mechanism under adverse selection: the canonical insurance problem ⋮ Prudent expectations equilibrium in economies with uncertain delivery ⋮ The probability approach to general equilibrium with production ⋮ Decentralizing lottery allocations in markets with indivisible commodities ⋮ Quality undersupply and oversupply ⋮ Optimal liquidity policy with shadow banking ⋮ INCENTIVE EFFICIENT PRICE SYSTEMS IN LARGE INSURANCE ECONOMIES WITH ADVERSE SELECTION ⋮ Preferences with taste shock representations: price volatility and the liquidity premium ⋮ Competitive equilibria with asymmetric information ⋮ Introduction to sunspots and lotteries ⋮ Equilibrium prices when the sunspot variable is continuous. ⋮ Lotteries, sunspots, and incentive constraints ⋮ Indivisibilities, lotteries, and monetary exchange ⋮ A characterization of robust sunspot equilibria ⋮ Incentives and the core of an exchange economy: a survey. ⋮ The anonymous core of an exchange economy. ⋮ Capital market equilibrium with moral hazard ⋮ Consistent collusion-proofness and correlation in exchange economies. ⋮ Financial intermediary-coalitions ⋮ Two-period economies with price-contingent deliveries
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