Epstein, Gil S.; Gang, Ira N. - Institute for the Study of Labor (IZA) - 2009
individual has no knowledge at all regarding the detection
probability – φ is one-half. However, even though there is some ….
Assumptions governing individuals’ actions. The structure of the game and Bayesian
rationality are common knowledge. Moreover …
. An individual receiving a signal does not have knowledge of the
level of risk aversion for each person in the population …