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作者：Kajii, Atsushi; Ui, Takashi
作者单位：Kyoto University; Yokohama National University
摘要：This paper considers an exchange economy under uncertainty with asymmetric information. Uncertainty is represented by multiple priors and posteriors of agents who have either Bewley's incomplete preferences or Gilboa-Schmeidler's maximin expected utility preferences. The main results characterize interim efficient allocations under uncertainty; that is, they provide conditions on the sets of posteriors, thus implicitly on the way how agents update the sets of priors, for non-existence of a tra...
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作者：Bernhardt, Dan; Duggan, John; Squintani, Francesco
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; University of Illinois System; University of Illinois Urbana-Champaign; University of Rochester; University of Rochester; University of Essex
摘要：We study elections in which two candidates poll voters about their preferred policies before taking policy positions. In the essentially unique equilibrium, candidates who receive moderate signals adopt more extreme platforms than their information suggests, but candidates with more extreme signals may moderate their platforms. Policy convergence does not maximize voters' welfare. Although candidates' platforms diverge in equilibrium, they do not do so as much as voters would like. We find tha...
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作者：Chambers, Christopher P.; Echenique, Federico
作者单位：California Institute of Technology
摘要：We uncover the complete ordinal implications of supermodularity on finite lattices under the assumption of weak monotonicity. In this environment, we show that supermodularity is ordinally equivalent to the notion of quasisupermodularity introduced by Milgrom and Shannon. We conclude that supermodularity is a weak property, in the sense that many preferences have a supermodular representation. (C) 2008 Elsevier Inc. All rights reserved.
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作者：Sun, Yeneng; Zhang, Yongchao
作者单位：National University of Singapore; National University of Singapore
摘要：Many economic models include random shocks imposed on a large number (continuum) of economic agents with individual risk. In this context, an exact law of large numbers and its converse is presented in [Y.N. Sun, The exact law of large numbers via Fubini extension and characterization of insurable risks, J. Econ. Theory 126 (2006) 31-69] to characterize the cancellation of individual risk via aggregation. However, it is well known that the Lebesgue unit interval is not suitable for modeling a ...
