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The core of economies with asymmetric information: an axiomatic approach

Authors
Journal
Journal of Mathematical Economics
0304-4068
Publisher
Elsevier
Publication Date
Volume
38
Identifiers
DOI: 10.1016/s0304-4068(02)00071-x
Keywords
  • Coarse Core
  • Fine Core
  • Internally Consistent Core

Abstract

Abstract We propose two generalizations of the Davis and Maschler [Naval Res. Logistics Quart. 12 (1965) 223] reduced game property to economies with asymmetric information and apply them in the characterization of two solution concepts. One is Wilson’s [Econometrica 46 (4) (1978) 807] Coarse Core and the other is a subsolution of it which we call the Coarse+ Core.

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