Chambers, Christopher P.; Hayashi, Takashi - In: Econometrica 82 (2014) 2, pp. 589-599
We show in an environment of incomplete information that monotonicity and the Pareto property applied only when there is common knowledge of Pareto dominance imply (i) there must exist a common prior over the smallest common knowledge event, and (ii) aggregation must be ex ante and ex post...