CIE Seminar- Hari Govindan (Rochester)

The Economic Research Center (CIE), invites you to the seminar: "Strategic Foundations of Efficient Rational Expectations." (Joint with with Paulo Barelli and Robert Wilson.

Presented by: Srihari Govindan (Rochester)

The seminar will take place on March 15th, from 12:00 pm to 1:30 pm in Santa Teresa´s Seminars Room

Abstract:

We study an economy with traders whose payoffs are quasilinear and whose private signals are informative about an unobserved state parameter. The limit economy has infinitely many traders partitioned into a finite set of symmetry classes called types. Market mechanisms in a class that includes auctions yield the same outcome as the Walrasian rational expectations equilibrium if and only if the efficient allocation