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

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.

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Year of publication:	2011
Authors:	Hellwig, Martin
Publisher:	Bonn : Max Planck Institute for Research on Collective Goods
Subject:	Spieltheorie \| Unvollkommene Information \| Wissen \| Meinung \| Theorie \| belief systems \| consistency \| common prior \| large economy

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Series:	Preprints of the Max Planck Institute for Research on Collective Goods ; 2011,8
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	657929271 [GVK] hdl:10419/57495 [Handle]
Classification:	C70 - Game Theory and Bargaining Theory. General ; D82 - Asymmetric and Private Information ; D83 - Search, Learning, Information and Knowledge
Source:	EconStor

Persistent link: https://www.econbiz.de/10010286705