Iterated expectations, compact spaces, and common priors

B-Tier
Journal: Games and Economic Behavior
Year: 2011
Volume: 72
Issue: 1
Pages: 163-171

Score contribution per author:

2.011 = (α=2.01 / 1 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Extending to infinite state spaces that are compact metric spaces a result previously attained by D. Samet solely in the context of finite state spaces, a necessary and sufficient condition for the existence of a common prior for several players is given in terms of the players' present beliefs only. A common prior exists if and only if for each random variable it is common knowledge that all Cesàro means of iterated expectations with respect to any permutation converge to the same value; this value is its expectation with respect to the common prior. It is further shown that compactness is a necessary condition for some of the results.

Technical Details

RePEc Handle
repec:eee:gamebe:v:72:y:2011:i:1:p:163-171
Journal Field
Theory
Author Count
1
Added to Database
2026-02-02