"Approximate Common Knowledge Revisited''
AbstractSuppose we replace "knowledge" by "belief with probability p" in standard definitions of common knowledge. Very different notions arise depending on the exact definition of common knowledge used in the substitution. This paper demonstrates those differences and identifies which notion is relevant in each of three contexts: equilibrium analysis in incomplete information games, best response dynamics in incomplete information games, and agreeing to disagree/no trade results.
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Bibliographic InfoPaper provided by University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences in its series CARESS Working Papres with number 96-06.
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- D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
- D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
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- Martin W. Cripps & Jeffrey C. Ely & George J. Mailath & Larry Samuelson, 2007.
PIER Working Paper Archive
07-018, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
- Martin W. Cripps & Jeffrey C. Ely & George J. Mailath & Larry Samuelson, 2006. "Common Learning," Cowles Foundation Discussion Papers 1575R, Cowles Foundation for Research in Economics, Yale University, revised Jun 2007.
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- Martin Cripps & Jeffrey Ely & George Mailath & Larry Samuelson, 2013.
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- Wilson Perez, 2004. "Divide and Conquer: Noisy Communication in Networks, Power, and Wealth Distribution," Working Papers 2004.33, Fondazione Eni Enrico Mattei.
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