From Posteriors to Priors via Cycles: An Addendum
AbstractRodrigues-Neto (2009) has shown that a given specification of posteriors of different players in an incomplete-information setting is compatible with a common prior if and only if the posteriors satisfy the so-called cycle equations. This note shows that, if, for any player, any element of the partition of the this player has a nonempty intersection with any element of the partition of any other player, then it suffices to verify the cycle equations for all cycles of length 4 or less.
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Bibliographic InfoPaper provided by Max Planck Institute for Research on Collective Goods in its series Working Paper Series of the Max Planck Institute for Research on Collective Goods with number 2011_07.
Date of creation: May 2011
Date of revision:
Belief systems; consistency; common priors; cycle equations;
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- Dov Samet, 1997.
"Common Priors and Separation of Convex Sets,"
Game Theory and Information
- Hellman, Ziv & Samet, Dov, 2012.
"How common are common priors?,"
Games and Economic Behavior,
Elsevier, vol. 74(2), pages 517-525.
- Rodrigues-Neto, José Alvaro, 2009. "From posteriors to priors via cycles," Journal of Economic Theory, Elsevier, vol. 144(2), pages 876-883, March.
- Rodrigues-Neto, José Alvaro, 2012.
"The cycles approach,"
Journal of Mathematical Economics,
Elsevier, vol. 48(4), pages 207-211.
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