On the core of an economy with differential information

We show that the fine core of an atomless exchange economy with differentia l information is a subset of the ex- post core of the economy. (This inclus ion may be proper; and it does not hold for economies with a finite number of traders.) Consequently. every fine core allocation is a selection from t he equilibrium correspondence of thr associated family, of full information economies, Moreover, when each, trader knows his or her own utility functi on and his of her own endowment, every fine core allocation Is a rational e xpectations equilibrium allocation. Journal of Economic Literature Classifi cation Numbers: C72, D50. (C) 2000 Academic Press.