Debreu's social equilibrium theorem with asymmetric information and a continuum of agents

被引:23
|
作者
Yannelis, Nicholas C. [1 ]
机构
[1] Univ Illinois, Dept Econ, Champaign, IL 61820 USA
关键词
Social equilibrium; Asymmetric information; Many more players than strategies; Convexifying effect; Pure strategy equilibrium; D82; D50; D83; C62; C71; D46; D61; EXISTENCE;
D O I
10.1007/s00199-007-0246-3
中图分类号
F [经济];
学科分类号
02 ;
摘要
We provide several different generalizations of Debreu's social equilibrium theorem by allowing for asymmetric information and a continuum of agents. The results not only extend the ones in Kim and Yannelis (J Econ Theory 77:330-353, 1977), Yannelis and Rustichini (Stud Econ Theory 2:23-48, 1991), but also new theorems are obtained which allow for a convexifying effect on aggregation (non-concavity assumption on the utility functions) and non-convex strategy sets (pure strategies). This is achieved by imposing the assumption of "many more agents than strategies" (Rustichini and Yannelis in Stud Econ Theory 1:249-265, 1991; Tourky and Yannelis in J Econ Theory 101:189-221, 2001; Podczeck in Econ Theory 22:699-725, 2003).
引用
收藏
页码:419 / 432
页数:14
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