The strong sequential core in a dynamic exchange economy

A Predtetchinski, PJJ Herings*, H Peters

*Corresponding author for this work

Research output: Contribution to journalArticleScientificpeer-review

Abstract

Dynamic exchange economies with uncertainty are considered where the information is released over infinite time. The strong sequential core of such an economy consists of those consumption streams that can be improved upon by no coalition at no moment of time. Non-emptiness of the strong sequential core is established given a high enough discount factor. Moreover, sufficient conditions are given under which the strong sequential core contains only time and history independent consumption streams.

Original languageEnglish
Pages (from-to)147-162
Number of pages16
JournalEconomic Theory
Volume24
Issue number1
DOIs
Publication statusPublished - Feb 2004

Keywords

  • core
  • stationary economies
  • uncertainty
  • DIFFERENTIAL INFORMATION ECONOMIES

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