From Posteriors to Priors via Cycles: An Addendum
Rodrigues-Neto (2009) has shown that a given specification of posteriors of different players in an incomplete-information setting is compatible with a common prior if and only if the posteriors satisfy the so-called cycle equations. This note shows that, if, for any player, any element of the partition of the this player has a nonempty intersection with any element of the partition of any other player, then it suffices to verify the cycle equations for all cycles of length 4 or less.
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- Samet, Dov, 1998. "Iterated Expectations and Common Priors," Games and Economic Behavior, Elsevier, vol. 24(1-2), pages 131-141, July.
- Samet, Dov, 1998.
"Common Priors and Separation of Convex Sets,"
Games and Economic Behavior,
Elsevier, vol. 24(1-2), pages 172-174, July.
- Jose Alvaro Rodrigues-Neto, 2011.
"The Cycles Approach,"
ANU Working Papers in Economics and Econometrics
2011-547, Australian National University, College of Business and Economics, School of Economics.
- Morris, Stephen, 1994. "Trade with Heterogeneous Prior Beliefs and Asymmetric Information," Econometrica, Econometric Society, vol. 62(6), pages 1327-47, November.
- John C. Harsanyi, 1967. "Games with Incomplete Information Played by "Bayesian" Players, I-III Part I. The Basic Model," Management Science, INFORMS, vol. 14(3), pages 159-182, November.
- Feinberg, Yossi, 2000. "Characterizing Common Priors in the Form of Posteriors," Journal of Economic Theory, Elsevier, vol. 91(2), pages 127-179, April.
- Ziv Hellman & Dov Samet, 2010.
"How Common Are Common Priors?,"
Discussion Paper Series
dp532, The Federmann Center for the Study of Rationality, the Hebrew University, Jerusalem.
- Rodrigues-Neto, José Alvaro, 2009. "From posteriors to priors via cycles," Journal of Economic Theory, Elsevier, vol. 144(2), pages 876-883, March.
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