Informational Robustness of Competitive Equilibria

Informational Robustness of Competitive Equilibria

Consider an exchange economy with complete information. We perturb this economy by assuming that each agent's observation about the true state of the world is noisy. The paper investigates the robustness of equilibria of the complete information economy with respect to incomplete information. W...

Ausführliche Beschreibung

Gespeichert in:
Bibliographische Detailangaben
Veröffentlicht in:Journal of economic theory 2001-12, Vol.101 (2), p.494-518
Hauptverfasser: Krasa, Stefan, Shafer, Wayne
Format: Artikel
Sprache:eng
Schlagworte:
Economic theory
Equilibrium
Studies
Online-Zugang:Volltext
Tags: Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
container_end_page 518
container_issue 2
container_start_page 494
container_title Journal of economic theory
container_volume 101
creator Krasa, Stefan
Shafer, Wayne
description Consider an exchange economy with complete information. We perturb this economy by assuming that each agent's observation about the true state of the world is noisy. The paper investigates the robustness of equilibria of the complete information economy with respect to incomplete information. We provide conditions under which complete information equilibria are limits of equilibria of the economies with incomplete information, as the noise in the signal converges to zero. Journal of Economic Literature Classification Numbers: D51, D82.
doi_str_mv 10.1006/jeth.2000.2771
format Article
fullrecord <record><control><sourceid>proquest_cross</sourceid><recordid>TN_cdi_proquest_journals_214393635</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><els_id>S0022053100927716</els_id><sourcerecordid>102214790</sourcerecordid><originalsourceid>FETCH-LOGICAL-c443t-ee675d4107888789d85bf9130b167a6efedee82d3e8f79a335b52d598b6e36cc3</originalsourceid><addsrcrecordid>eNp1kEtLw0AUhQdRsFa3roP71HlkHllKqQ8sCKLrIZnc0ClNJp2ZFPrvnRBx5-LcexfnHC4fQvcErwjG4nEPcbeiGOMVlZJcoAXBJc8lZfwSLTCmNMeckWt0E8IeY0K4EAtE3_rW-a6K1vXVIft09RhiDyFkrs3Wrhsg2mhPkG2Ooz3Y2tvqFl211SHA3e9eou_nzdf6Nd9-vLytn7a5KQoWcwAheVMQLJVSUpWN4nVbEoZrImQloIUGQNGGgWplWTHGa04bXqpaABPGsCV6mHsH744jhKj3bvTpy6ApKVjJBOPJtJpNxrsQPLR68Lar_FkTrCcsesKiJyx6wpIC73PAwwDmzw0AkxGcPmlWEUzSPCel4HTa6Uwakoqy0JwovYtdalNzGyQQJwteB2OhN9BYDybqxtn_HvkBaOOB4Q</addsrcrecordid><sourcetype>Aggregation Database</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>214393635</pqid></control><display><type>article</type><title>Informational Robustness of Competitive Equilibria</title><source>RePEc</source><source>ScienceDirect Journals (5 years ago - present)</source><creator>Krasa, Stefan ; Shafer, Wayne</creator><creatorcontrib>Krasa, Stefan ; Shafer, Wayne</creatorcontrib><description>Consider an exchange economy with complete information. We perturb this economy by assuming that each agent's observation about the true state of the world is noisy. The paper investigates the robustness of equilibria of the complete information economy with respect to incomplete information. We provide conditions under which complete information equilibria are limits of equilibria of the economies with incomplete information, as the noise in the signal converges to zero. Journal of Economic Literature Classification Numbers: D51, D82.</description><identifier>ISSN: 0022-0531</identifier><identifier>EISSN: 1095-7235</identifier><identifier>DOI: 10.1006/jeth.2000.2771</identifier><identifier>CODEN: JECTAQ</identifier><language>eng</language><publisher>New York: Elsevier Inc</publisher><subject>Economic theory ; Equilibrium ; Studies</subject><ispartof>Journal of economic theory, 2001-12, Vol.101 (2), p.494-518</ispartof><rights>2001 Elsevier Science (USA)</rights><rights>Copyright Elsevier Science Publishing Company, Inc. Dec 2001</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c443t-ee675d4107888789d85bf9130b167a6efedee82d3e8f79a335b52d598b6e36cc3</citedby><cites>FETCH-LOGICAL-c443t-ee675d4107888789d85bf9130b167a6efedee82d3e8f79a335b52d598b6e36cc3</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktohtml>$$Uhttps://dx.doi.org/10.1006/jeth.2000.2771$$EHTML$$P50$$Gelsevier$$H</linktohtml><link.rule.ids>314,780,784,3548,4006,27923,27924,45994</link.rule.ids><backlink>$$Uhttp://econpapers.repec.org/article/eeejetheo/v_3a101_3ay_3a2001_3ai_3a2_3ap_3a494-518.htm$$DView record in RePEc$$Hfree_for_read</backlink></links><search><creatorcontrib>Krasa, Stefan</creatorcontrib><creatorcontrib>Shafer, Wayne</creatorcontrib><title>Informational Robustness of Competitive Equilibria</title><title>Journal of economic theory</title><description>Consider an exchange economy with complete information. We perturb this economy by assuming that each agent's observation about the true state of the world is noisy. The paper investigates the robustness of equilibria of the complete information economy with respect to incomplete information. We provide conditions under which complete information equilibria are limits of equilibria of the economies with incomplete information, as the noise in the signal converges to zero. Journal of Economic Literature Classification Numbers: D51, D82.</description><subject>Economic theory</subject><subject>Equilibrium</subject><subject>Studies</subject><issn>0022-0531</issn><issn>1095-7235</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2001</creationdate><recordtype>article</recordtype><sourceid>X2L</sourceid><recordid>eNp1kEtLw0AUhQdRsFa3roP71HlkHllKqQ8sCKLrIZnc0ClNJp2ZFPrvnRBx5-LcexfnHC4fQvcErwjG4nEPcbeiGOMVlZJcoAXBJc8lZfwSLTCmNMeckWt0E8IeY0K4EAtE3_rW-a6K1vXVIft09RhiDyFkrs3Wrhsg2mhPkG2Ooz3Y2tvqFl211SHA3e9eou_nzdf6Nd9-vLytn7a5KQoWcwAheVMQLJVSUpWN4nVbEoZrImQloIUGQNGGgWplWTHGa04bXqpaABPGsCV6mHsH744jhKj3bvTpy6ApKVjJBOPJtJpNxrsQPLR68Lar_FkTrCcsesKiJyx6wpIC73PAwwDmzw0AkxGcPmlWEUzSPCel4HTa6Uwakoqy0JwovYtdalNzGyQQJwteB2OhN9BYDybqxtn_HvkBaOOB4Q</recordid><startdate>20011201</startdate><enddate>20011201</enddate><creator>Krasa, Stefan</creator><creator>Shafer, Wayne</creator><general>Elsevier Inc</general><general>Elsevier</general><general>Elsevier Science Publishing Company, Inc</general><scope>DKI</scope><scope>X2L</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>8BJ</scope><scope>FQK</scope><scope>JBE</scope></search><sort><creationdate>20011201</creationdate><title>Informational Robustness of Competitive Equilibria</title><author>Krasa, Stefan ; Shafer, Wayne</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c443t-ee675d4107888789d85bf9130b167a6efedee82d3e8f79a335b52d598b6e36cc3</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2001</creationdate><topic>Economic theory</topic><topic>Equilibrium</topic><topic>Studies</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Krasa, Stefan</creatorcontrib><creatorcontrib>Shafer, Wayne</creatorcontrib><collection>RePEc IDEAS</collection><collection>RePEc</collection><collection>CrossRef</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><jtitle>Journal of economic theory</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Krasa, Stefan</au><au>Shafer, Wayne</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Informational Robustness of Competitive Equilibria</atitle><jtitle>Journal of economic theory</jtitle><date>2001-12-01</date><risdate>2001</risdate><volume>101</volume><issue>2</issue><spage>494</spage><epage>518</epage><pages>494-518</pages><issn>0022-0531</issn><eissn>1095-7235</eissn><coden>JECTAQ</coden><abstract>Consider an exchange economy with complete information. We perturb this economy by assuming that each agent's observation about the true state of the world is noisy. The paper investigates the robustness of equilibria of the complete information economy with respect to incomplete information. We provide conditions under which complete information equilibria are limits of equilibria of the economies with incomplete information, as the noise in the signal converges to zero. Journal of Economic Literature Classification Numbers: D51, D82.</abstract><cop>New York</cop><pub>Elsevier Inc</pub><doi>10.1006/jeth.2000.2771</doi><tpages>25</tpages></addata></record>
fulltext fulltext
identifier ISSN: 0022-0531
ispartof Journal of economic theory, 2001-12, Vol.101 (2), p.494-518
issn 0022-0531
1095-7235
language eng
recordid cdi_proquest_journals_214393635
source RePEc; ScienceDirect Journals (5 years ago - present)
subjects Economic theory
Equilibrium
Studies
title Informational Robustness of Competitive Equilibria
url https://sfx.bib-bvb.de/sfx_tum?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2025-01-11T18%3A04%3A36IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-proquest_cross&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=Informational%20Robustness%20of%20Competitive%20Equilibria&rft.jtitle=Journal%20of%20economic%20theory&rft.au=Krasa,%20Stefan&rft.date=2001-12-01&rft.volume=101&rft.issue=2&rft.spage=494&rft.epage=518&rft.pages=494-518&rft.issn=0022-0531&rft.eissn=1095-7235&rft.coden=JECTAQ&rft_id=info:doi/10.1006/jeth.2000.2771&rft_dat=%3Cproquest_cross%3E102214790%3C/proquest_cross%3E%3Curl%3E%3C/url%3E&disable_directlink=true&sfx.directlink=off&sfx.report_link=0&rft_id=info:oai/&rft_pqid=214393635&rft_id=info:pmid/&rft_els_id=S0022053100927716&rfr_iscdi=true