Bhowmik, Anuj and Cao, Jiling (2011): On the core and Walrasian expectations equilibrium in infinite dimensional commodity spaces.

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Abstract
In this paper, we establish two different characterizations of Walrasian expectations allocations by the veto power of the grand coalition in an asymmetric information economy having finitely many agents and states of nature and whose commodity space is a Banach lattice. The first one deals with Aubin nondominated allocations, and the other claims that an allocation is a Walrasian expectations allocation if and only if it is not privately dominated by the grand coalition, by considering perturbations of the original initial endowments in precise directions.
Item Type:  MPRA Paper 

Original Title:  On the core and Walrasian expectations equilibrium in infinite dimensional commodity spaces 
Language:  English 
Keywords:  Asymmetric information economy; Aubin nondominated allocation; Private core; Privately nondominated allocation; Properness; Walrasian expectations allocation 
Subjects:  D  Microeconomics > D1  Household Behavior and Family Economics > D11  Consumer Economics: Theory D  Microeconomics > D8  Information, Knowledge, and Uncertainty > D82  Asymmetric and Private Information; Mechanism Design D  Microeconomics > D5  General Equilibrium and Disequilibrium > D51  Exchange and Production Economies 
Item ID:  35060 
Depositing User:  Jiling Cao 
Date Deposited:  28. Nov 2011 03:55 
Last Modified:  16. Feb 2013 08:34 
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URI:  http://mpra.ub.unimuenchen.de/id/eprint/35060 