Incomplete Information, Credibility and the Core
Incomplete Information, Credibility and the Core
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信息不完整、可信度与核心
DOI:
10.2139/ssrn.724145
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发表时间:
2005
期刊:
影响因子:
--
通讯作者:
R. Vohra
中科院分区:
文献类型:
--
作者:
Bhaskar Dutta;R. Vohra
An appropriate (interim) notion of the core for an economy with incomplete information depends on the amount of information that coalitions can share. The coarse and fine core, as originally defined by Wilson (1978), correspond to two polar cases, involving no information sharing and arbitrary information sharing, respectively. We propose a new core notion, the credible core, which incorporates incentive compatibility constraints, and is based on the idea that a coalition can coordinate its potential objection to a status-quo over an event that can be credibly inferred from the nature of the objection being contemplated. We provide sufficient conditions ensuring non-emptiness of the credible core.