Optimality of the Disclosure of Private Information in a Production‐Exchange Economy
分析生产交换经济中信息披露对个人福利的影响，将总效应分解为价格、持股和生产三个效应，证明信息披露虽不一定带来帕累托改进，但在某些视角下仍可能有益。
ABSTRACT This study provides an analysis of the effects on individual welfare of information revelation in a production‐exchange economy. It is shown that the total effect of information revelation on an agent's utility level may be decomposed into three elements: a price effect, a shareholding effect, and a production effect. Through this decomposition, it is demonstrated that, although a Pareto improvement need not result from information revelation, there are perspectives from which the release can be considered beneficial.