The Ex Ante Incentive Compatible Core in the Absence of Wealth Effects
研究准线性效用下事前激励相容核的非空性,发现即使允许随机分配,一个良好行为的交换经济中该核仍可能为空。
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 nonempty. However, we exhibit a well–behaved exchange economy in which this core is empty, even if goods are allocated through random mechanisms.