Private Value Allocations in Large Economies with Differential Information

Ezra Einy; Benyamin Shitovitz

doi:10.1006/game.2000.0807

Private Value Allocations in Large Economies with Differential Information

Ezra Einy
, Benyamin Shitovitz

Department of Economics

Research output: Contribution to journal › Article › peer-review

Abstract

We consider a Radner-type (e.g., Radner, 1968, Econometrica 36, 31-58) pure exchange economy with differential information and a continuum of agents. We show that under appropriate assumptions the set of Aumann-Shapley private value allocations in such an economy coincides with the set of Radner competitive equilibrium allocations. Journal of Economic Literature Classification Numbers: C71, D51, D82.

Original language	English
Pages (from-to)	287-311
Number of pages	25
Journal	Games and Economic Behavior
Volume	34
Issue number	2
DOIs	https://doi.org/10.1006/game.2000.0807
State	Published - Feb 2001

ASJC Scopus subject areas

Finance
Economics and Econometrics

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10.1006/game.2000.0807

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title = "Private Value Allocations in Large Economies with Differential Information",

abstract = "We consider a Radner-type (e.g., Radner, 1968, Econometrica 36, 31-58) pure exchange economy with differential information and a continuum of agents. We show that under appropriate assumptions the set of Aumann-Shapley private value allocations in such an economy coincides with the set of Radner competitive equilibrium allocations. Journal of Economic Literature Classification Numbers: C71, D51, D82.",

author = "Ezra Einy and Benyamin Shitovitz",

year = "2001",

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AB - We consider a Radner-type (e.g., Radner, 1968, Econometrica 36, 31-58) pure exchange economy with differential information and a continuum of agents. We show that under appropriate assumptions the set of Aumann-Shapley private value allocations in such an economy coincides with the set of Radner competitive equilibrium allocations. Journal of Economic Literature Classification Numbers: C71, D51, D82.

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M3 - Article

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JO - Games and Economic Behavior

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Private Value Allocations in Large Economies with Differential Information

Abstract

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