Danie͏̈ls, Tijmen; Jager, Henk; Klaassen, Franc - 2009
idea behind
the global game technique is to follow a modelling approach that allows for a lack of common
knowledge about … the true
value of ut , and this fact is common knowledge among agents. However, the actual value of
ut remains unknown to … speculators and banks, so that there can be no common knowledge of
the fundamental itself. Like in Morris and Shin (1998), the …