New study reveals how asymmetric information impacts competitive equilibrium in economies.
The article shows that in economies with hidden information, there are core elements that are fair for everyone. These elements may not cover all possibilities, but they are still important. The study proves that there is a type of balance called competitive quasi-equilibrium when there is at least one fair core element. By looking at the starting resources and how people communicate, we can make sure that every competitive quasi-equilibrium is also a competitive balance.