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Monopolists of scarce information and small group effectiveness in large quasilinear economies

Author

Listed:
  • Yusuke Kamishiro

    (Kanto Gakuin University)

  • Roberto Serrano

    (Brown University)

  • Myrna Wooders

    (Vanderbilt University
    New York University Abu Dhabi)

Abstract

In large quasilinear economies, we provide sufficient conditions to establish the nonemptiness of several versions of approximate interim cores with endogenous communication. This is done by proving nonemptiness of approximate ex post cores satisfying incentive compatibility. Our model features a finite number of agents whose information is exclusive, whom we shall term “monopolists of scarce information.” When the number of agents with exclusive information remains finite, the main argument relies on an adaptation of the small group effectiveness condition, previously proposed for games of complete information.

Suggested Citation

  • Yusuke Kamishiro & Roberto Serrano & Myrna Wooders, 2021. "Monopolists of scarce information and small group effectiveness in large quasilinear economies," International Journal of Game Theory, Springer;Game Theory Society, vol. 50(4), pages 801-827, December.
    • Handle: RePEc:spr:jogath:v:50:y:2021:i:4:d:10.1007_s00182-021-00769-x
    DOI: 10.1007/s00182-021-00769-x
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    References listed on IDEAS

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    More about this item

    Keywords

    Asymmetric information; Large quasilinear economies; Exclusive information; Small group effectiveness; Approximate cores;
    All these keywords.

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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