Private Information: Similarity as Compatibility |
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| Authors: | João Correia-da-Silva Carlos Hervés-Beloso |
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| Institution: | (1) FCT, Faculdade de Economia, Universidade do Porto, Rua Dr. Roberto Frias, 4200-464 Porto, Portugal;(2) RGEA, Facultad de Económicas, Universidad de Vigo, Campus Lagoas-Marcosende, 6310 Vigo, Spain |
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| Abstract: | We introduce a new topology on information which evaluates the similarity between information fields taking into account their compatibility, that is, the events that are commonly observed. With this “topology of common information”, the Walrasian expectations equilibrium (Radner 1968) and the private core (Yannelis 1991) are upper semicontinuous |
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| Keywords: | Asymmetric information Differential information economy Private core Topology of common information |
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