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Fine value allocations in large exchange economies with differential information

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  • Einy, Ezra
  • Shitovitz, Benyamin

Abstract

We show that the set of fine value allocations of a pure exchange economy with a continuum of traders and differential information coincides with the set of competitive allocations of an associated symmetric information economy in which each trader has the "joint infomation" of all the traders in the original economy.

Suggested Citation

  • Einy, Ezra & Shitovitz, Benyamin, 1999. "Fine value allocations in large exchange economies with differential information," UC3M Working papers. Economics 6128, Universidad Carlos III de Madrid. Departamento de Economía.
    • Handle: RePEc:cte:werepe:6128
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    References listed on IDEAS

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    1. Aumann, Robert J, 1975. "Values of Markets with a Continuum of Traders," Econometrica, Econometric Society, vol. 43(4), pages 611-646, July.
    2. Einy, Ezra & Shitovitz, Benyamin, 1998. "Existence and equivalence of competitive and core allocations in large exchange economies with differential information," UC3M Working papers. Economics 6078, Universidad Carlos III de Madrid. Departamento de Economía.
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    7. Stefan Krasa & Nicholas C. Yannelis, 2005. "The value allocation of an economy with differential information," Studies in Economic Theory, in: Dionysius Glycopantis & Nicholas C. Yannelis (ed.), Differential Information Economies, pages 507-526, Springer.
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    Cited by:

    1. Ezra Einy & Diego Moreno & Benyamin Shitovitz, 2005. "The bargaining set of a large economy with differential information," Studies in Economic Theory, in: Dionysius Glycopantis & Nicholas C. Yannelis (ed.), Differential Information Economies, pages 541-552, Springer.

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    Keywords

    Atomless exchange economies;

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