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Speculative Trade under Unawareness: The Infinite Case

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  • Meier, Martin
  • Schipper, Burkhard C

Abstract

We generalize the "No-trade" theorem for finite unawareness belief structures in Heifetz, Meier, and Schipper (2009) to the infinite case.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 20632.

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Date of creation: 05 Feb 2010
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Handle: RePEc:pra:mprapa:20632

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Keywords: Awareness; unawareness; speculation; trade; agreement; common prior; common certainty;

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References

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  1. Heifetz, Aviad & Meier, Martin & Schipper, Burkhard C., 2006. "A Canonical Model for Interactive Unawareness," Working Papers 05-7, University of California at Davis, Department of Economics.
  2. Oliver Board, 2008. "Object-Based Unawareness: Theory and Applications," Working Papers 378, University of Pittsburgh, Department of Economics, revised Mar 2009.
  3. Heifetz, Aviad & Meier, Martin & Schipper, Burkhard, 2011. "Unawareness, Beliefs, and Speculative Trade," Working Papers 11-8, University of California at Davis, Department of Economics.
  4. Heifetz, Aviad & Meier, Martin & Schipper, Burkhard C., 2006. "Interactive unawareness," Journal of Economic Theory, Elsevier, vol. 130(1), pages 78-94, September.
  5. Monderer, Dov & Samet, Dov, 1989. "Approximating common knowledge with common beliefs," Games and Economic Behavior, Elsevier, vol. 1(2), pages 170-190, June.
  6. Paul Milgrom & Nancy L.Stokey, 1979. "Information, Trade, and Common Knowledge," Discussion Papers 377R, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  7. Heifetz, Aviad, 2006. "The positive foundation of the common prior assumption," Games and Economic Behavior, Elsevier, vol. 56(1), pages 105-120, July.
  8. Feinberg, Yossi, 2000. "Characterizing Common Priors in the Form of Posteriors," Journal of Economic Theory, Elsevier, vol. 91(2), pages 127-179, April.
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Citations

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Cited by:
  1. Schipper, Burkhard C, 2010. "Revealed Unawareness," MPRA Paper 21491, University Library of Munich, Germany.
  2. Heifetz, Aviad & Meier, Martin & Schipper, Burkhard, 2011. "Unawareness, Beliefs, and Speculative Trade," Working Papers 11-8, University of California at Davis, Department of Economics.
  3. Schipper, Burkhard C, 2011. "Preference-Based Unawareness," MPRA Paper 30221, University Library of Munich, Germany.
  4. Martin Meier & Burkhard Schipper, 2012. "Bayesian Games with Unawareness and Unawareness Perfection," Working Papers 129, University of California, Davis, Department of Economics.
  5. Galanis, Spyros, 2007. "Unawareness of theorems," Discussion Paper Series In Economics And Econometrics 51816, Economics Division, School of Social Sciences, University of Southampton.

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