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Published August 7, 2017 | public
Report

The Positive Foundation of the Common Prior Assumption

Heifetz, Aviad

Abstract

The existence of a common prior is a property of the state space used to model the players' asymmetric information. We show that this property is not just a technical artifact of the model, but that it is immanent to the players' beliefs. To this end, we devise a condition, phrased solely in terms of the players' mutual beliefs about the basic, objective issues of possible uncertainty, which is equivalent to the existence of a common prior.

Additional Information

Paper dated to Feb. 2001.

Additional details

Created:
August 19, 2023
Modified:
January 13, 2024