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Aggregate information, common knowledge, and agreeing not to bet

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Author Info
Tsakas, Elias () (Department of Economics, School of Business, Economics and Law, Göteborg University)

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Abstract

I consider a gamble where the sum of the distributed payoffs is proportionate to the number of participants. I show that no subset of the population can agree to participate in the bet, if the size of the group is commonly known. Repeated announcements of the number of the participants leads the population to agree not to bet.

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File URL: http://hdl.handle.net/2077/4575
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Publisher Info
Paper provided by Göteborg University, Department of Economics in its series Working Papers in Economics with number 254.

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Length: 9 pages
Date of creation: 18 Jun 2007
Date of revision:
Handle: RePEc:hhs:gunwpe:0254

Contact details of provider:
Postal: Department of Economics, School of Business, Economics and Law, Göteborg University Box 640, SE 405 30 GÖTEBORG, Sweden
Phone: 031-773 10 00
Web page: http://www.handels.gu.se/econ/
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Related research
Keywords: Gamble; private information; communication; common knowledge;

Find related papers by JEL classification:
D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information
D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
D89 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Other

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This page was last updated on 2009-12-9.

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