Bhowmik, Anuj (2013): Edgeworth equilibria: separable and nonseparable commodity spaces.
This is the latest version of this item.

PDF
MPRA_paper_46796.pdf Download (320kB)  Preview 
Abstract
Consider a pure exchange differential information economy with an atomless measure space of agents and a Banach lattice as the commodity space. If the commodity space is separable, then it is shown that the private core coincides with the set of Walrasian expectations allocations. In the case of nonseparable commodity space, a similar result is also established if the space of agents is decomposed into countably many different types.
Item Type:  MPRA Paper 

Original Title:  Edgeworth equilibria: separable and nonseparable commodity spaces 
English Title:  Edgeworth equilibria: separable and nonseparable commodity spaces 
Language:  English 
Keywords:  Differential information economy; Extremely desirable bundle; Private core. 
Subjects:  D  Microeconomics > D4  Market Structure, Pricing, and Design > D41  Perfect Competition D  Microeconomics > D5  General Equilibrium and Disequilibrium > D51  Exchange and Production Economies D  Microeconomics > D8  Information, Knowledge, and Uncertainty > D82  Asymmetric and Private Information ; Mechanism Design 
Item ID:  46796 
Depositing User:  Dr. Anuj Bhowmik 
Date Deposited:  07 May 2013 11:54 
Last Modified:  10 Oct 2019 16:48 
References:  L. Angeloni and V. Filipe MartinsdaRocha, Large economies with differential information and without disposal, Econ. Theory {\bf 38} (2009), 263286. R.J. Aumann, Markets with a continuum of traders, Econometrica {\bf 32} (1964), 3950. A. Bhowmik, J. Cao, Blocking efficiency in mixed economies with asymmetric information, J. Math. Econ. {\bf 48}(2012), 396403. A. Bhowmik, J. Cao, Robust efficiency in an economy with asymmetric information, J. Math. Econ. {\bf 49} (2013), 4957. A. Bhowmik, J. Cao, On the core and Walrasian expectations equilibrium in infinite dimensional commodity spaces, Econ. Theory, DOI 10.1007/s0019901207035. A. De Simone, M.G. Graziano, Cone conditions in oligopolistic market models, Math. Social Sci. {\bf 45} (2003), 5373. E. Einy, D. Moreno, B. Shitovitz, Competitive and core allocations in large economies with differentiated information, Econ. Theory {\bf 18} (2001), 321332. \"{O}. Evren, F. H\"{u}sseinov, Theorems on the core of an economy with infinitely many commodities and consumers, J. Math. Econ. {\bf 44} (2008), 11801196. J.J. Gabszewich, J.F. Mertens, An equivalence theorem for the core of an economy whose atoms are not ``too" big, Econometrica {\bf 39} (1971), 713721. J. Greenberg, B. Shitovitz, A simple proof of the equivalence theorem for olipogolistic mixed markets, J. Math. Econ. {\bf 15} (1986), 7983. C. Herv\'{e}sBeloso, E. MorenoGarc\'{i}a, C. N\'{u}\~{n}ezSanz, M.R. P\'{a}scoa, Blocking efficiency of small coalitions in myopic economies, J. Econ. Theory {\bf 93} (2000), 7286. C. Herv\'{e}sBeloso, E. MorenoGarc\'{i}a, N.C. Yannelis, Characterization and incentive compatibility of Walrasian expectations equilibrium in infinite dimensional commodity spaces, Econ. Theory {\bf 26} (2005), 361381. F. Hiai, H. Umegaki, Integrals, conditional expectations, and martingales of multivalued functions, J. Multivariate Anal. {\bf 7} (1977), 149182. W. Hildenbrand, Core and equilibria in large economies, Priceton University Press, 1974. L. Koutsougers, N.C. Yannelis, Incentive compatibility and information superiority of the core of an economy with differental information, Econ. Theory {\bf 3} (1993), 195216. M. Pesce, On mixed markets with asymmetric information, Econ. Theory {\bf 45} (2010), 2353. K. Podczeck, Core and Walrasian equilibria when agents' characteristics are extremely dispersed, Econ. Theory {\bf 22} (2003), 699725. K. Podczeck, On CoreWalras equivalence in Banach spaces when feasibility is defined by the Pettis integral, J. Math. Econ. {\bf 40} (2004), 429463. K. Podczeck, On coreWalras equivalence in Banach lattices, J. Math. Econ. {\bf 41} (2005), 764792. R. Radner, Competitive equilibrium under uncertainty, Econometrica {\bf 36} (1968), 3158. A. Rustichini, N.C. Yannelis, Edgeworth's conjecture in economies with a continuum of agents and commodities, J. Math. Econ. {\bf 20} (1991), 307326. B. Shitovitz, Oligopoly in markets with a continuum of traders, Econometrica {\bf 41} (1973), 467501. R. Tourky, N. C. Yannelis, Markets with many more agents than commodities: Aumann's ``hidden" assumption, J. Econ. Theory {\bf 101} (2001), 189221. J.J. Jr. Uhl, The range of a vector valued measure, Proc. Amer. Math. Soc. {\bf 23} (1969), 158163. R. Wilson, Information, efficiency, and the core of an economy, Econometrica {\bf 46} (1978), 807816. N.C. Yannelis, W. R. Zame, Equilibria in Banach lattices without ordered preferences, J. Math. Econ. {\bf 15} (1986), 85110. N.C. Yannelis, The core of an economy with differential information, Econ. Theory {\bf 1} (1991), 183197. 
URI:  https://mpra.ub.unimuenchen.de/id/eprint/46796 
Available Versions of this Item

Edgeworth equilibria: separable and nonseparable commodity spaces. (deposited UNSPECIFIED)
 Edgeworth equilibria: separable and nonseparable commodity spaces. (deposited 07 May 2013 11:54) [Currently Displayed]