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|
|Contact details of provider:|| Postal: Feldman Building - Givat Ram - 91904 Jerusalem|
Web page: http://www.ratio.huji.ac.il/
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"Information, trade and common knowledge,"
Journal of Economic Theory,
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- Klaus Nehring & Giacomo Bonanno, 2003. "Assessing The Truth Axiom Under Incomplete Information," Working Papers 973, University of California, Davis, Department of Economics.
- 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. Full references (including those not matched with items on IDEAS)
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