Some new characterization of rational expectation equilibria in economies with asymmetric information |
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Authors: | Anna De Simone Ciro Tarantino |
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Affiliation: | 1. Department of Mathematics and Statistics, University Federico II of Naples, Complesso Monte S. Angelo, Via Cintia, 80126, Naples, Italy
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Abstract: | We compare the family of rational expectation equilibria with the ex-post Aubin core allocations in the framework of an economy with uncertainty and asymmetric information. We do it in a very general setting: an arbitrary space of agents and an infinite dimensional commodity space. We also present a characterization of the ex–post Aubin core by allocations belonging to the core of the associated complete information economies, and we use a suitable definition of Edgeworth equilibria to characterize the family of rational expectation equilibria. Moreover, we study some generalizations of the ex-post Aubin core obtained by making some restriction on the families of blocking coalitions. |
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