caa a22 4500 605475830 CHVBK 20210128100353.0 cr unu---uuuuu 210128e20150501xx s 000 0 eng 10.1007/s00199-014-0812-4 doi (NATIONALLICENCE)springer-10.1007/s00199-014-0812-4 Value allocation under ambiguity [Elektronische Daten] [Angelos Angelopoulos, Leonidas Koutsougeras] 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. Springer-Verlag Berlin Heidelberg, 2014 Asymmetric information nationallicence Maxmin value allocation nationallicence Incentive compatibility nationallicence Efficiency nationallicence Angelopoulos Angelos School of Social Sciences, Economics, University of Manchester, Oxford Road, M13 9PL, Manchester, UK aut Koutsougeras Leonidas School of Social Sciences, Economics, University of Manchester, Oxford Road, M13 9PL, Manchester, UK aut Economic Theory Springer Berlin Heidelberg 59/1(2015-05-01), 147-167 0938-2259 59:1<147 2015 59 199 https://doi.org/10.1007/s00199-014-0812-4 text/html Onlinezugriff via DOI BK010053 XK010053 XK010000 Metadata rights reserved Springer special CC-BY-NC licence nationallicence 1 research-article jats NATIONALLICENCE NATIONALLICENCE NL-springer NATIONALLICENCE 856 40 https://doi.org/10.1007/s00199-014-0812-4 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Angelopoulos Angelos School of Social Sciences, Economics, University of Manchester, Oxford Road, M13 9PL, Manchester, UK aut NATIONALLICENCE 700 1- Koutsougeras Leonidas School of Social Sciences, Economics, University of Manchester, Oxford Road, M13 9PL, Manchester, UK aut NATIONALLICENCE 773 0- Economic Theory Springer Berlin Heidelberg 59/1(2015-05-01), 147-167 0938-2259 59:1<147 2015 59 199