Forges, Françoise
Mertens, Jean-François
[UCL]
Vohra, Rajiv
In a differential information economy with quasi-linear utilities, monetary transfers facilitate the fulfillment of incentive compatibility constraints: the associated ex ante core is generically non-empty. However, we exhibit a wellbehaved exchange economy in which this core is empty, even if goods are allocated through random mechanisms.
| Bibliographic reference |
Forges, Françoise ; Mertens, Jean-François ; Vohra, Rajiv. The ex ante incentive compatible core in the absence of wealth effects. CORE Discussion Papers ; 2001/1 (2001) |
| Permanent URL |
http://hdl.handle.net/2078.1/4155 |
