Value allocation under ambiguity
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| 024 | 7 | 0 | |a 10.1007/s00199-014-0812-4 |2 doi |
| 035 | |a (NATIONALLICENCE)springer-10.1007/s00199-014-0812-4 | ||
| 245 | 0 | 0 | |a Value allocation under ambiguity |h [Elektronische Daten] |c [Angelos Angelopoulos, Leonidas Koutsougeras] |
| 520 | 3 | |a We consider a pure exchange economy with asymmetric information where individual behavior exhibits ambiguity aversion along the line of maximin expected utility decision making. For such economies, we introduce different notions of maximin value allocations. We also introduce a strong notion of incentive compatibility. We prove the existence and incentive compatibility of the maximin value allocation. We conclude that unlike the Bayesian value allocation approach in Krasa Yannelis (Econometrica 62(4):881-900, 1994), incentive compatibility is related to efficiency rather than to direct exchange of information. | |
| 540 | |a Springer-Verlag Berlin Heidelberg, 2014 | ||
| 690 | 7 | |a Asymmetric information |2 nationallicence | |
| 690 | 7 | |a Maxmin value allocation |2 nationallicence | |
| 690 | 7 | |a Incentive compatibility |2 nationallicence | |
| 690 | 7 | |a Efficiency |2 nationallicence | |
| 700 | 1 | |a Angelopoulos |D Angelos |u School of Social Sciences, Economics, University of Manchester, Oxford Road, M13 9PL, Manchester, UK |4 aut | |
| 700 | 1 | |a Koutsougeras |D Leonidas |u School of Social Sciences, Economics, University of Manchester, Oxford Road, M13 9PL, Manchester, UK |4 aut | |
| 773 | 0 | |t Economic Theory |d Springer Berlin Heidelberg |g 59/1(2015-05-01), 147-167 |x 0938-2259 |q 59:1<147 |1 2015 |2 59 |o 199 | |
| 856 | 4 | 0 | |u https://doi.org/10.1007/s00199-014-0812-4 |q text/html |z Onlinezugriff via DOI |
| 898 | |a BK010053 |b XK010053 |c XK010000 | ||
| 900 | 7 | |a Metadata rights reserved |b Springer special CC-BY-NC licence |2 nationallicence | |
| 908 | |D 1 |a research-article |2 jats | ||
| 949 | |B NATIONALLICENCE |F NATIONALLICENCE |b NL-springer | ||
| 950 | |B NATIONALLICENCE |P 856 |E 40 |u https://doi.org/10.1007/s00199-014-0812-4 |q text/html |z Onlinezugriff via DOI | ||
| 950 | |B NATIONALLICENCE |P 700 |E 1- |a Angelopoulos |D Angelos |u School of Social Sciences, Economics, University of Manchester, Oxford Road, M13 9PL, Manchester, UK |4 aut | ||
| 950 | |B NATIONALLICENCE |P 700 |E 1- |a Koutsougeras |D Leonidas |u School of Social Sciences, Economics, University of Manchester, Oxford Road, M13 9PL, Manchester, UK |4 aut | ||
| 950 | |B NATIONALLICENCE |P 773 |E 0- |t Economic Theory |d Springer Berlin Heidelberg |g 59/1(2015-05-01), 147-167 |x 0938-2259 |q 59:1<147 |1 2015 |2 59 |o 199 | ||