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Informational efficiency properties of rational expectations equilibria in non-convex economies

Informational efficiency properties of rational expectations equilibria in non-convex economies
Informational efficiency properties of rational expectations equilibria in non-convex economies
Summary. A simple example shows that although non-convexities might prevent the existence of a fully revealing rational expectations equilibrium, they need not prevent the existence of a non-informative one. Indeed, the economy in this example does not possess any fully revealing equilibria, but does have a continuum of non-informative ones.
asymmetric information, non-convex economies
0938-2259
323-332
Seccia, Giulio
5fb5c6bf-4289-4962-9682-d2decbb0c4ba
Seccia, Giulio
5fb5c6bf-4289-4962-9682-d2decbb0c4ba

Seccia, Giulio (2000) Informational efficiency properties of rational expectations equilibria in non-convex economies. Economic Theory, 16 (2), 323-332.

Record type: Article

Abstract

Summary. A simple example shows that although non-convexities might prevent the existence of a fully revealing rational expectations equilibrium, they need not prevent the existence of a non-informative one. Indeed, the economy in this example does not possess any fully revealing equilibria, but does have a continuum of non-informative ones.

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More information

Published date: 2000
Keywords: asymmetric information, non-convex economies

Identifiers

Local EPrints ID: 32907
URI: https://eprints.soton.ac.uk/id/eprint/32907
ISSN: 0938-2259
PURE UUID: 8096e1e2-759b-4ba4-b347-78bebf1cde1e

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Date deposited: 16 May 2006
Last modified: 17 Jul 2017 15:54

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Contributors

Author: Giulio Seccia

University divisions

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