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• W2898625842 abstract "We investigate the fairness property of equal-division competitive market equilibria (CME) in asymmetric information economies with a space of agents that may contain non-negligible (large) traders. We first propose an extension to our framework of the notion of strict fairness due to Zhou (1992). We prove that once agents are asymmetrically informed, any equal-division CME allocation is strictly fair, but a strictly fair allocation might not be supported by an equilibrium price. Then, we investigate the role of large traders and we provide two sufficient conditions under which, in the case of complete information economies, a redistribution of resources is strictly fair if and only if it results from a competitive mechanism." @default.
• W2898625842 created "2018-11-09" @default.
• W2898625842 creator A5011610329 @default.
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• W2898625842 date "2018-05-23" @default.
• W2898625842 modified "2023-09-27" @default.
• W2898625842 title "Strict Fairness of Equilibria in Mixed and Asymmetric Information Economies" @default.
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• W2898625842 hasPublicationYear "2018" @default.
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