Contradicting Beliefs and Communication
We address the issue of the representation as well as the evolution of (possibly) mistaken beliefs. We develop a formal setup (a mutual belief space) in which agents might have a mistaken view of what the model is. We then model a communication process, by which agents communicate their beliefs to one another. We define a revision rule that can be applied even when agents have contradictory beliefs. We study its properties and, in particular, show that, when mistaken, agents do not necessarily eventually agree after communicating their beliefs. We finally address the dynamics of revision and show that when beliefs are mistaken, the order of communication may affect the resulting belief structure.
|Date of creation:||Jan 2003|
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Web page: http://www.ratio.huji.ac.il/
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- Giacomo Bonanno & Klaus Nehring, "undated".
"Assessing The Truth Axiom Under Incomplete Information,"
Department of Economics
97-03, California Davis - Department of Economics.
- Bonanno, Giacomo & Nehring, Klaus, 1998. "Assessing the truth axiom under incomplete information," Mathematical Social Sciences, Elsevier, vol. 36(1), pages 3-29, July.
- Klaus Nehring & Giacomo Bonanno, 2003. "Assessing The Truth Axiom Under Incomplete Information," Working Papers 973, University of California, Davis, Department of Economics.
- Geanakoplos, John, 1994. "Common knowledge," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 2, chapter 40, pages 1437-1496 Elsevier.
- Paul Milgrom & Nancy L.Stokey, 1979.
"Information, Trade, and Common Knowledge,"
377R, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Rubinstein, Ariel, 1989. "The Electronic Mail Game: Strategic Behavior under "Almost Common Knowledge."," American Economic Review, American Economic Association, vol. 79(3), pages 385-391, June.
- Morris, Stephen, 1994. "Trade with Heterogeneous Prior Beliefs and Asymmetric Information," Econometrica, Econometric Society, vol. 62(6), pages 1327-1347, November.
- Gul, Faruk & Lundholm, Russell, 1995. "Endogenous Timing and the Clustering of Agents' Decisions," Journal of Political Economy, University of Chicago Press, vol. 103(5), pages 1039-1066, October.
- Bacharach, Michael, 1985. "Some extensions of a claim of Aumann in an axiomatic model of knowledge," Journal of Economic Theory, Elsevier, vol. 37(1), pages 167-190, October.
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