Parikh and Krasucki (1990) suggested in an informal manner that a consensus does not require common knowledge. Weyers (1992) proved that their model does not permit such a conclusion and that a more general one has to be constructed. Heifetz (1996) gave an example with three agents inspired by...

In almost common value auctions, even a very small private payoff advantage is usually supposed to have an explosive effect on the outcomes in a second- price sealed-bid auction. According to Bikhchandani (1988) and Klemperer (1997) the large set of equilibria obtained for common value auction...