We study the relationship between common knowledge and the sequence of iterated mutual knowledge from a topological point of view. It is shown that common knowledge is not equivalent to the limit of the sequence of iterated mutual knowledge. On that account the new epistemic operator limit...

This paper considers the search for the best papers by the editors of an academic journal. At each period, each editor receives a set of submissions and has to decide which paper to accept. Some editors being more demanding than others, researchers choose the quality level of their papers taking...

Many important regulatory decisions are taken by professionals employing limited and conflicting evidence. We conduct an experiment in a merger regulation setting, identifying the role of different standards of proof, volumes of evidence, cost of error and professional or lay decision making....

A small set of allocation principles is said to be behind several theories of distributive justice. However, disagreement about the appropriate relationship between these notions remains, so that compromises between principles may generate more agreement. Truncated utilitarianism is a prominent...

Coordination games often have multiple equilibria. The selection of equilibrium raises the question of belief formation: how do players generate beliefs about the behavior of other players? This article takes the view that the answer lies in history, that is, in the outcomes of similar...

The Group Calibration Index (GCI) provides a means of assessing the quality of forecasters’ predictions in situations that lack external feedback or outcome data. The GCI replaces the missing outcome data with aggregated ratings of a well-defined reference group. A simulation study and two...