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Intersubjective Consistency Of Beliefs And The Logic Of Common Belief


  • Giacomo Bonanno

    (Department of Economics, University of California Davis)


We characterize the class of n-person belief systems for which common belief has the properties of the strongest logic of belief, KD45. The characterizing condition states that individuals are not too mistaken in their beliefs about common beliefs. It is shown to be considerably weaker than the consistency condition on interpersonal beliefs implied by the common knowledge assumption: it allows individuals to ""agree to disagree"" and to be quite incorrect about others7 beliefs.

Suggested Citation

  • Giacomo Bonanno, 2004. "Intersubjective Consistency Of Beliefs And The Logic Of Common Belief," Working Papers 958, University of California, Davis, Department of Economics.
  • Handle: RePEc:cda:wpaper:95-8

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    1. Calsamiglia, Xavier & Kirman, Alan, 1993. "A Unique Informationally Efficient and Decentralized Mechanism with Fair Outcomes," Econometrica, Econometric Society, vol. 61(5), pages 1147-1172, September.
    2. Walter Garcia-Fontes & Hugo Hopenhayn, 2000. "Entry restrictions and the determination of quality," Spanish Economic Review, Springer;Spanish Economic Association, vol. 2(2), pages 105-127.
    3. Juan P. Nicolini, 1993. "More on the time inconsistency of optimal monetary policy," Economics Working Papers 56, Department of Economics and Business, Universitat Pompeu Fabra.
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    JEL classification:

    • C00 - Mathematical and Quantitative Methods - - General - - - General
    • D10 - Microeconomics - - Household Behavior - - - General
    • D19 - Microeconomics - - Household Behavior - - - Other


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