Core Equivalence Theorem In Economies With Asymmetric Information

The relationship between competitive equilibrium and private core is often discussed in mathematical economy.Through definitions,we can explore the relationship between quasi-equilibrium,competitive equilibrium,private core and strong private core in an asymmetric information economy with countably many states of nature.The main results in this dissertation are the following:1.We introduce the definitions of competitive equilibrium and quasi-equilibrium.It is concluded that under appropraiate assumption,in an asymmetric economy with countably many states of nature,every quasi-equilibrium is a competitive equilibrium.2.We introduce the concepts of private core and strong private core in the case that private assignments are feasible with free-disposal.It is concluded that under our assimptions,private core,strong private core and competitive equilibrium in our economic model are equivalent.3.We introduce the concepts of private core and strong private core in the case that private assignments are feasible without free-disposal,and discuss some of their properties in asymmetric economies with countably many states of nature.