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A Note on Common Prior

  • Miklós Pintér

    (Corvinus University of Budapest)

Registered author(s):

    Harsányi introduced the concept of type space in an intuitive way. Later Heifetz and Samet formalized it. Harsányi used conditional probabilities to model the beliefs of the players, Heifetz and Samet avoided using conditional probabilities formally. We show that in both cases the concept of transition probability can reproduce the models, moreover, the transition probability approach fits to both Harsányi's intuition and the formalization of Heifetz and Samet. As a consequence, our results suggest that the concept of common prior is not appropriate to determine the players' beliefs. Two examples are also given.

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    File URL: http://econwpa.repec.org/eps/game/papers/0510/0510010.pdf
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    Paper provided by EconWPA in its series Game Theory and Information with number 0510010.

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    Length: 10 pages
    Date of creation: 20 Oct 2005
    Date of revision:
    Handle: RePEc:wpa:wuwpga:0510010
    Note: Type of Document - pdf; pages: 10
    Contact details of provider: Web page: http://econwpa.repec.org

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    1. Heifetz, Aviad & Samet, Dov, 1998. "Topology-Free Typology of Beliefs," Journal of Economic Theory, Elsevier, vol. 82(2), pages 324-341, October.
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