Interim core concepts for a bayesian pure exchange economy [An article from: Journal of Mathematical Economics]

This digital document is a journal article from Journal of Mathematical Economics, published by Elsevier in 2004. The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.

Description:
The private information case of a Bayesian pure exchange economy is studied. The Bayesian incentive-compatible coarse core is proved to be nonempty. On the other hand, the Bayesian incentive-compatible interim core may be empty, even for Bayesian pure exchange economies satisfying the traditional (neoclassical) assumptions. A sufficient condition for the latter's nonemptiness is established; the condition specifies relationships among effects of different type profiles.