Asymptotic Efficiency in Large Exchange Economies With Asymmetric Information
非对称信息下大型交换经济的渐近效率
The authors provide conditions on an exchange economy with asymmetric information that guarantee that when the economy is replicated sufficiently often, there will be an allocation that is incentive compatible, individually rational, and nearly efficient. The main theorem covers both the case in which aggregate uncertainty remains when the economy is replicated and the case in which replication eliminates aggregate uncertainty. In addition, the authors demonstrate how their…