Incomplete-Information Models of Large Economies with Anonymity: Existence and Uniqueness of Common Priors
| Publication Type | Preprints | |
| Author | Martin Hellwig | |
| Year of Publication | 2011 | |
| Issue | 2011/08 | |
| Abstract | The paper provides a speciÂ…cation of belief systems for models of large economies with anonymity in which aggregate states depend only on cross-section distributions of types. For belief systems satisfying certain conditions of mutual absolute continuity, the paper gives a necessary and sufficient condition for the existence of a common prior. Under the given conditions, the common prior is unique. | |
| Publisher | Max Planck Institute for Research on Collective Goods | |
| Place Published | Bonn | |
| Export | Tagged BibTex XML | |
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| Keywords | Large Economy, Belief systems, consistency, common prior | |
| JEL-Codes | D82, C70, D83 |
