AbstractThis paper surveys the implications of "common knowledge" in interactive epistemology and game theory, with special emphasis on speculation, betting, agreeing to disagree, and coordination. The implications of approximate common knowledge are also analyzed. Approximate common knowledge is defined three ways: as knowledge of knowledge ... of knowledge, iterated N times; as p-common knowledge; and as weak p-common knowledge. Finally the implications of common knowledge are examined when agents are boundedly rational.
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Bibliographic InfoPaper provided by Cowles Foundation for Research in Economics, Yale University in its series Cowles Foundation Discussion Papers with number 1062.
Length: 73 pages
Date of creation: Aug 1993
Date of revision:
Publication status: Published in Journal of Economic Perspectives (Fall 1992), 6(4): 53-82
Note: CFP 828.
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Postal: Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA
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