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The standard state-spaces of asymmetric information preclude non-trivial forms of unawareness (Modica and Rustichini …-trivial unawareness among several individuals, and which satisfies strong properties of knowledge as well as all the desiderata on … unawareness proposed this far in the literature. …
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Heifetz, Meier and Schipper (2005) introduced a generalized state-space model that allows for non-trivial unawareness … among several individuals and strong properties of knowledge. We show that this generalized state-space model arises …
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relations modeling implicit knowledge. They are a flexible model of unawareness, and best interpreted from a outside modeler …'s perspective. Unawareness structures by Heifetz, Meier, and Schipper (2006, 2008) (HMS) model awareness by a lattice of state … spaces and explicit knowledge via possibility correspondences. Sublattices thereof can be interpreted as subjective views of …
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We generalize the ``No-speculative-trade" theorem for finite unawareness belief structures in Heifetz, Meier, and …
Persistent link: https://www.econbiz.de/10010250539
We define a generalized state-space model with interactive unawareness and probabilistic beliefs. Such models are … desirable for many potential applications of asymmetric unawareness. We develop Bayesian games with unawareness, define … restricted from higher to lower awareness levels. We use our unawareness belief structure to show that the common prior …
Persistent link: https://www.econbiz.de/10010365853
In the majority economic areas of the world, family businesses are the overwhelming majority, it is certain in the case of small and medium-sized businesses. Large family companies - in opposition to common opinion - are not the economy margin. It is other way round, they are not directly...
Persistent link: https://www.econbiz.de/10012011003
We can consider the unity of knowledge in a business context as a singular event, but nonetheless, deliberate a … contrary perspective from current knowledge transfer practitioners. Both perspectives agree deliverable knowledge is key for … business success and competitive advantage but question the problematic transfer of knowledge. This discussion examines the …
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