Information, efficiency, and the core of an economy
Information, efficiency, and the core of an economy
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信息、效率和经济的核心
DOI:
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发表时间:
1978
期刊:
影响因子:
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通讯作者:
Robert B. Wilson
中科院分区:
文献类型:
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作者:
Robert B. Wilson
The meaning of exchange efficiency is examined in the context of an economy in which agents differ in their endowments of information. Definitions of efficiency, and of the core, are proposed which emphasize the role of communication. Opportunities for insurance are preserved by restricting communication, or in a market system by restricting insider trading, prior to the pooling of information for the purposes of production.