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Members of different social groups often hold widely divergent public beliefs regarding the nature of the world in which they live. We develop a model that can accommodate such public disagreement, and use it to explore questions concerning the aggregation of distributed information and the...
Persistent link: https://www.econbiz.de/10005345026
We develop a model of deliberation under heterogeneous beliefs and incomplete information, and use it to explore questions concerning the aggregation of distributed information and the consequences of social integration. We show that when priors are correlated, all private information is...
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It is a common fear in many countries that ideological parties will come to power through elections but will implement extreme policies. Many countries cope with this problem by overriding the election results when such parties are elected. We demonstrate that the alternative approach of...
Persistent link: https://www.econbiz.de/10005413586
Under the assumption that individuals know the conditional distributions of signals given the payoff-relevant parameters, existing results conclude that as individuals observe infinitely many signals, their beliefs about the parameters will eventually merge. We first show that these results are...
Persistent link: https://www.econbiz.de/10011132387
In the reputation literature, players have \emph{commitment types} which represent the possibility that they do not have standard payoffs but instead are constrained to follow a particular plan. In this paper, we show that arbitrary commitment types can emerge from incomplete information about...
Persistent link: https://www.econbiz.de/10011127591
We show that in any game that is continuous at infinity, if a plan of action a<sub>i</sub> is played by a type t<sub>i</sub> in a Bayesian Nash equilibrium, then there are perturbations of t<sub>i</sub> for which a<sub>i</sub> is the only rationalizable plan and whose unique rationalizable belief regarding the play of the game is...
Persistent link: https://www.econbiz.de/10010970153