The strong sequential core in a dynamic exchange economy
Article
Economic Theory
Issue number:
1
Publisher:
Springer-Verlag
Year:
2004
Journal pages:
147-162
Dynamic exchange economies with uncertainty are considered where the information is released over infinite time. The strong sequential core of such an economy consists of those consumption streams that can be improved upon by no coalition at no moment of time. Non-emptiness of the strong sequential core is established given a high enough discount factor. Moreover, sufficient conditions are given under which the strong sequential core contains only time and history independent consumption streams.