Informational Size and Incentive Compatibility
研究不对称信息下一般均衡模型中激励相容与帕累托效率的冲突，提出信息规模概念，证明当代理人信息规模足够小时，该冲突可任意缩小。
We examine a general equilibrium model with asymmetrically informed agents. The presence of asymmetric information generally presents a conflict between incentive compatibility and Pareto efficiency. We present a notion of informational size and show that the conflict between incentive compatibility and efficiency can be made arbitrarily small if agents are of sufficiently small informational size.