If a stochastically monotone function of asymmetrically informed individuals' expectations of a random vector is common knowledge, than all the individuals must agree on their expectations. This result generalizes the theorem of Nielsen, Brandenburger, Geanakoplos, McKelvey and Page (1989) from...

Suppose that information about the value of a risky asset is dispersed among many agents in the economy. The paper studies the rate at which successive price quotations from competitive market makers, which reflect the desired (notional) trades of risk- averse informed agents, reveal the value...