Incomplete-Information Models of Large Economies with Anonymity : Existence and Uniqueness of Common Priors

@inproceedings{Hellwig2011IncompleteInformationMO,
  title={Incomplete-Information Models of Large Economies with Anonymity : Existence and Uniqueness of Common Priors},
  author={Martin Hellwig},
  year={2011}
}
The paper provides a speci…cation of belief systems for models of large economies with anonymity in which aggregate states depend only on crosssection distributions of types. For belief systems satisfying certain conditions of mutual absolute continuity, the paper gives a necessary and su¢ cient condition for the existence of a common prior. Under the given conditions, the common prior is unique. Key Words : Belief systems, consistency, common prior, large economy. JEL: C70, D82, D83. 1… CONTINUE READING

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