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Virtual utility and the core for games with incomplete information

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  • Myerson, Roger B.

Abstract

The core is extended to games with incomplete information. The feasible set is characterized by incentive-compatible mechanisms, and blocking may similarly be organized by an incentive compatible mediation plan. Nonemptiness is proven for games with a balanced structure
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Suggested Citation

  • Myerson, Roger B., 2007. "Virtual utility and the core for games with incomplete information," Journal of Economic Theory, Elsevier, vol. 136(1), pages 260-285, September.
    • Handle: RePEc:eee:jetheo:v:136:y:2007:i:1:p:260-285
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    References listed on IDEAS

    as
    1. Myerson, Roger B, 1983. "Mechanism Design by an Informed Principal," Econometrica, Econometric Society, vol. 51(6), pages 1767-1797, November.
    2. Lee, Darin & Volij, Oscar, 2002. "The core of economies with asymmetric information: an axiomatic approach," Journal of Mathematical Economics, Elsevier, vol. 38(1-2), pages 43-63, September.
    3. Serrano, Roberto & Vohra, Rajiv, 2007. "Information transmission in coalitional voting games," Journal of Economic Theory, Elsevier, vol. 134(1), pages 117-137, May.
    4. Myerson, Roger B., 1989. "Credible negotiation statements and coherent plans," Journal of Economic Theory, Elsevier, vol. 48(1), pages 264-303, June.
    5. Holmstrom, Bengt & Myerson, Roger B, 1983. "Efficient and Durable Decision Rules with Incomplete Information," Econometrica, Econometric Society, vol. 51(6), pages 1799-1819, November.
    6. Qin Cheng-Zhong, 1993. "The Inner Core and the Strictly Inhibitive Set," Journal of Economic Theory, Elsevier, vol. 59(1), pages 96-106, February.
    7. Myerson, Roger B, 1984. "Two-Person Bargaining Problems with Incomplete Information," Econometrica, Econometric Society, vol. 52(2), pages 461-487, March.
    8. Forges, Francoise & Minelli, Enrico & Vohra, Rajiv, 2002. "Incentives and the core of an exchange economy: a survey," Journal of Mathematical Economics, Elsevier, vol. 38(1-2), pages 1-41, September.
    9. Roberto Serrano & Rajiv Vohra & Oscar Volij, 2001. "On the Failure of Core Convergence in Economies with Asymmetric Information," Econometrica, Econometric Society, vol. 69(6), pages 1685-1696, November.
    10. de Clippel, Geoffroy, 2007. "The type-agent core for exchange economies with asymmetric information," Journal of Economic Theory, Elsevier, vol. 135(1), pages 144-158, July.
    11. Françoise Forges & Aviad Heifetz & Enrico Minelli, 2005. "Incentive compatible core and competitive equilibria in differential information economies," Studies in Economic Theory, in: Dionysius Glycopantis & Nicholas C. Yannelis (ed.), Differential Information Economies, pages 185-201, Springer.
    12. Vohra, Rajiv, 1999. "Incomplete Information, Incentive Compatibility, and the Core," Journal of Economic Theory, Elsevier, vol. 86(1), pages 123-147, May.
    13. Alexey Malakhov & Rakesh V. Vohra, 2004. "Single and Multi-Dimensional Optimal Auctions - A Network Approach," Discussion Papers 1397, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    14. Francoise Forges & Jean-Francois Mertens & Rajiv Vohra, 2002. "The Ex Ante Incentive Compatible Core in the Absence of Wealth Effects," Econometrica, Econometric Society, vol. 70(5), pages 1865-1892, September.
    15. Myerson Roger B., 1995. "Sustainable Matching Plans with Adverse Selection," Games and Economic Behavior, Elsevier, vol. 9(1), pages 35-65, April.
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    18. repec:dau:papers:123456789/5454 is not listed on IDEAS
    19. repec:dau:papers:123456789/5451 is not listed on IDEAS
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    More about this item

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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