Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/80101
Authors: 
Forges, Françoise
Mertens, Jean-François
Vohra, Rajiv
Year of Publication: 
2001
Series/Report no.: 
Working Paper, Brown University, Department of Economics 2001-01
Abstract: 
In a differencial economy with quasi-linear utilities, monetary transfers facilitate the fulfilment of incentive compability constraints: the associated ex ante core is generically nonempty. However, we exhibit a well-behaved exchange economy in which this core is empty, even if goods are allocated through random mechanisms.
Subjects: 
Core
exchange economy
asymmetric information
incentive compability
ex ante
transferable utility
absence of wealth effects : quasi-linear
Document Type: 
Working Paper

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