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Consensus, Communication and Knowledge : an Extension with Bayesian Agents

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  • Lucie Ménager

    ()
    (EUREQua)

Abstract

We extend the result of Parikh and Krasucki [1990] to the case where the set of available decisions is arbitrary. We show that if agents are bayesian and choose the action that maximizes their expected utility, then word of mouth communication leads to the equality of all decisions.

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File URL: ftp://mse.univ-paris1.fr/pub/mse/cahiers2005/V05031.pdf
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Bibliographic Info

Paper provided by Université Panthéon-Sorbonne (Paris 1) in its series Cahiers de la Maison des Sciences Economiques with number v05031.

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Length: 9 pages
Date of creation: Feb 2005
Date of revision: Jan 2006
Handle: RePEc:mse:wpsorb:v05031

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Keywords: Consensus; common knowledge; word of mouth communication.;

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  1. John Geanakoplos & Heracles M. Polemarchakis, 1982. "We Can't Disagree Forever," Cowles Foundation Discussion Papers 639, Cowles Foundation for Research in Economics, Yale University.
  2. Cave, Jonathan A. K., 1983. "Learning to agree," Economics Letters, Elsevier, vol. 12(2), pages 147-152.
  3. Robert J Aumann, 1999. "Agreeing to Disagree," Levine's Working Paper Archive 512, David K. Levine.
  4. Geanakoplos, John D. & Polemarchakis, Heraklis M., 1982. "We can't disagree forever," Journal of Economic Theory, Elsevier, vol. 28(1), pages 192-200, October.
  5. Bacharach, Michael, 1985. "Some extensions of a claim of Aumann in an axiomatic model of knowledge," Journal of Economic Theory, Elsevier, vol. 37(1), pages 167-190, October.
  6. Krasucki, Paul, 1996. "Protocols Forcing Consensus," Journal of Economic Theory, Elsevier, vol. 70(1), pages 266-272, July.
  7. Parikh, Rohit & Krasucki, Paul, 1990. "Communication, consensus, and knowledge," Journal of Economic Theory, Elsevier, vol. 52(1), pages 178-189, October.
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Cited by:
  1. Rosenberg, Dinah & Solan, Eilon & Vieille, Nicolas, 2009. "Informational externalities and emergence of consensus," Games and Economic Behavior, Elsevier, vol. 66(2), pages 979-994, July.

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