The extended notion of pure exchange economy under uncertainty, called an economy with awareness structure, is presented, where each trader having strictly monotone preferences makes decision under his/her awareness and belief. We show an extension of the core equivalence theorem: The ex-post core coincides with the set of all generalized expectations equilibria in awareness for the economy.
@article{bwmeta1.element.bwnjournal-article-doi-10_4064-bc71-0-18,
author = {Takashi Matsuhisa},
title = {Core equivalence in economy under awareness},
journal = {Banach Center Publications},
volume = {72},
year = {2006},
pages = {227-235},
zbl = {1255.91232},
language = {en},
url = {http://dml.mathdoc.fr/item/bwmeta1.element.bwnjournal-article-doi-10_4064-bc71-0-18}
}
Takashi Matsuhisa. Core equivalence in economy under awareness. Banach Center Publications, Tome 72 (2006) pp. 227-235. http://gdmltest.u-ga.fr/item/bwmeta1.element.bwnjournal-article-doi-10_4064-bc71-0-18/