In this paper we study the first passage time for a damage process to exceed a given threshold or for the maximal increment of this process to pass a certain critical value. Conditions under which this first passage time possesses the NBU, the IFRA or the IFR properties are studied. An...

If a stochastically monotone function of asymmetrically informed individuals' expectations of a random vector is common knowledge, than all the individuals must agree on their expectations. This result generalizes the theorem of Nielsen, Brandenburger, Geanakoplos, McKelvey and Page (1989) from...

If a stochastically monotone aggregate of asymmetrically informed agents' expectations of a random variable is common information, then the agents must agree on their expectations. This result is applied to a model of an oligopolistic market where the firms have a common random component of...

If a stochastically monotone aggregate of asymmetrically informed individuals' expectations of a random variable is common information, then the aggregate must be a sufficient statistic, and all the individuals must have the same relevant information and agree on their expectations. If a...