The strong sequential core in a dynamic exchange economy

A Predtetchinski; P.J.J. Herings; H Peters

doi:10.1007/s00199-003-0404-1

The strong sequential core in a dynamic exchange economy

A Predtetchinski, P.J.J. Herings^*, H Peters

^*Corresponding author for this work

Research output: Contribution to journal › Article › Scientific › peer-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 language	English
Pages (from-to)	147-162
Number of pages	16
Journal	Economic Theory
Volume	24
Issue number	1
DOIs	https://doi.org/10.1007/s00199-003-0404-1
Publication status	Published - Feb 2004
Externally published	Yes

Keywords

core
stationary economies
uncertainty
DIFFERENTIAL INFORMATION ECONOMIES

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10.1007/s00199-003-0404-1

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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.",

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AB - 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.

KW - core

KW - stationary economies

KW - uncertainty

KW - DIFFERENTIAL INFORMATION ECONOMIES

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DO - 10.1007/s00199-003-0404-1

M3 - Article

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VL - 24

SP - 147

EP - 162

JO - Economic Theory

JF - Economic Theory

IS - 1

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The strong sequential core in a dynamic exchange economy

Abstract

Keywords

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