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Common Learning

  • Martin W. Cripps

    (University College and Washington University, St. Louis)

  • Jeffrey C. Ely

    (Northwestern University)

  • George J. Mailath

    (Cowles Foundation, Yale University)

  • Larry Samuelson

    (University of Wisconsin)

Consider two agents who learn the value of an unknown parameter by observing a sequence of private signals. The signals are independent and identically distributed across time but not necessarily agents. Does it follow that the agents will commonly learn its value, i.e., that the true value of the parameter will become (approximate) common-knowledge? We show that the answer is affirmative when each agent's signal space is finite and show by example that common learning can fail when observations come from a countably infinite signal space.

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File URL: http://cowles.econ.yale.edu/P/cd/d15b/d1575.pdf
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Paper provided by Cowles Foundation for Research in Economics, Yale University in its series Cowles Foundation Discussion Papers with number 1575.

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Length: 34 pages
Date of creation: Aug 2006
Date of revision:
Publication status: Published in Econometrics (2008), 76(4): 909-933
Handle: RePEc:cwl:cwldpp:1575
Contact details of provider: Postal: Yale University, Box 208281, New Haven, CT 06520-8281 USA
Phone: (203) 432-3702
Fax: (203) 432-6167
Web page: http://cowles.econ.yale.edu/
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Order Information: Postal: Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA

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  1. Rubinstein, Ariel, 1989. "The Electronic Mail Game: Strategic Behavior under "Almost Common Knowledge."," American Economic Review, American Economic Association, vol. 79(3), pages 385-91, June.
  2. Martin W. Cripps & George J. Mailath & Larry Samuelson, 2006. "Disappearing Private Reputations in Long-Run Relationships," Levine's Bibliography 321307000000000152, UCLA Department of Economics.
  3. repec:ner:tilbur:urn:nbn:nl:ui:12-154416 is not listed on IDEAS
  4. Carlsson, H. & Van Damme, E., 1990. "Global Games And Equilibrium Selection," Papers 9052, Tilburg - Center for Economic Research.
  5. Stephen Morris, . ""Approximate Common Knowledge Revisited''," CARESS Working Papres 96-06, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
  6. Monderer, Dov & Samet, Dov, 1989. "Approximating common knowledge with common beliefs," Games and Economic Behavior, Elsevier, vol. 1(2), pages 170-190, June.
  7. Thomas Wiseman, 2005. "A Partial Folk Theorem for Games with Unknown Payoff Distributions," Econometrica, Econometric Society, vol. 73(2), pages 629-645, 03.
  8. Samet, Dov, 1998. "Iterated Expectations and Common Priors," Games and Economic Behavior, Elsevier, vol. 24(1-2), pages 131-141, July.
  9. Daron Acemoglu & Victor Chernozhukov & Muhamet Yildiz, 2006. "Learning and Disagreement in an Uncertain World," NBER Working Papers 12648, National Bureau of Economic Research, Inc.
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