Incomplete-information models of large economies with anonymity : existence and uniqueness of common priors

Martin Hellwig

The paper provides a specification of belief systems for models of large economies with anonymity in which aggregate states depend only on cross-section distributions of types. For belief systems satisfying certain conditions of mutual absolute continuity, the paper gives a necessary and sufficient condition for the existence of a common prior. Under the given conditions, the common prior is unique. -- Large Economy ; Belief systems ; consistency ; common prior

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Year of publication:	2011
Authors:	Hellwig, Martin
Publisher:	Bonn : Max Planck Inst. for Research on Collective Goods
Subject:	Spieltheorie \| Game theory \| Unvollkommene Information \| Incomplete information \| Wissen \| Knowledge \| Meinung \| Opinion \| Theorie \| Theory