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Core and equilibria under ambiguity
This paper introduces new core and Walrasian equilibrium notions for an asymmetric information economy with non-expected utility preferences. We prove existence and incentive compatibility resultsExpand
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A Note on the Private Core and Coalitional Fairness under Asymmetric Information
We study relations among Walrasian expectations allocations, coalitional fair allocations and the private core of economies with uncertainty and asymmetric information. Our analysis covers finiteExpand
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On mixed markets with asymmetric information
In asymmetric information exchange economies involving both non-negligible and negligible agents, one should expect the failure of the private Core-Walras Equivalence Theorem. This paper shows thatExpand
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Fairness Properties of Constrained Market Equilibria
This paper studies the notion of fairness in pure exchange economies involving uncertainty and asymmetric information. We propose a new concept of coalitional fair allocation in order to solve theExpand
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Mixed Markets with Public Goods
We use a mixed market model for analyzing economies with public projects in which the condition of perfect competition is violated. We discuss core-equivalence results in the general framework ofExpand
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A New Perspective on Rational Expectations
A central problem of rational expectations equilibrium (REE) theory is that a REE may fail to exist. This failure is known since Kreps (1977). The influential papers of Radner (1979) and Allen (1981)Expand
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A new perspective to rational expectations: maximin rational expectations equilibrium ⁄
We introduce a new notion of rational expectations equilibrium (REE) called maximin rational expectations equilibrium (MREE), which is based on the maximin expected utility (MEU) formulation. InExpand
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Incentive compatibility with interdependent preferences
We introduce new concepts of incentive compatibility and efficiency for a differential information economy with interdependent preferences. Using the new definitions, we provide theorems on theExpand
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Rational Expectations Equilibrium Under Ambiguity∗
Rational expectations equilibrium (REE) seeks a proper treatment of behavior under private information by assuming that the information revealed by prices is taken into account by agents in theirExpand
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