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Consensus, communication and knowledge: an extension with bayesian agents

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  • Lucie Ménager

    (EUREQUA - Equipe Universitaire de Recherche en Economie Quantitative - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

Abstract

Parikh and Krasucki [1990] showed that pairwise communication of the value of a function f leads to a consensus about the communicated value if the function f is convex. They showed that union consistency of f may not be sufficient to guarantee consensus in any communication protocol. Krasucki [1996] proved that consensus occurs for any union consistent function if the protocol contains no cycle. We show that if agents communicate their optimal action, namely the action that maximizes their expected utility, then consensus obtains in any fair protocol for any action space.

Suggested Citation

  • Lucie Ménager, 2005. "Consensus, communication and knowledge: an extension with bayesian agents," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00194381, HAL.
    • Handle: RePEc:hal:cesptp:halshs-00194381
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00194381
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    Cited by:

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    2. 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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    Keywords

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    JEL classification:

    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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