Communication, timing, and common learning
AbstractWe study the effect of stochastically delayed communication on common knowledge acquisition (common learning). If messages do not report dispatch times, communication prevents common learning under general conditions even if common knowledge is acquired without communication. If messages report dispatch times, communication can destroy common learning under more restrictive conditions. The failure of common learning in the two cases is based on different infection arguments. Communication can destroy common learning even if it ends in finite time, or if agents communicate all of their information. We also identify conditions under which common learning is preserved in the presence of communication.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Theory.
Volume (Year): 146 (2011)
Issue (Month): 1 (January)
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Web page: http://www.elsevier.com/locate/inca/622869
Common knowledge Learning Communication;
Other versions of this item:
- Jakub Steiner & Colin Stewart, 2010. "Communication, Timing, and Common Learning," Discussion Papers 1484, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Jakub Steiner & Colin Stewart, 2010. "Communication, Timing, and Common Learning," Working Papers tecipa-389, University of Toronto, Department of Economics.
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
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