Differential Information Economies

• Corporate Author: SpringerLink (Online service)
• Other Authors: Glycopantis, Dionysius (Editor), Yannelis, Nicholas C. (Editor)
• Format: Electronic eBook
• Language: English
• Published: Berlin, Heidelberg : Springer Berlin Heidelberg, 2005.
• Series: Studies in Economic Theory, 19
• Subjects: Game theory.; Economic theory.; Economics.; Economic Theory/Quantitative Economics/Mathematical Methods.; Game Theory, Economics, Social and Behav. Sciences.
• Physical Description: XIV, 650 p. online resource.
• ISBN: 9783540269793
• ISSN: 1431-8849 ;

One of the main problems in current economic theory is to write contracts which are Pareto optimal, incentive compatible, and also implementable as a perfect Bayesian equilibrium of a dynamic, noncooperative game. The question arises whether it is possible to provide Walrasian type or cooperative equilibrium concepts which have these properties. This volume contains original contributions on noncooperative and cooperative equilibrium notions in economies with differential information and provides answers to the above questions. Moreover, issues of stability, learning and continuity of alternative equilibria are also examined. .