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-trivial unawareness among several individuals, and which satisfies strong properties of knowledge as well as all the desiderata on …The standard state-spaces of asymmetric information preclude non-trivial forms of unawareness (Modica and Rustichini … unawareness proposed this far in the literature. …
Persistent link: https://www.econbiz.de/10010366550
Heifetz, Meier and Schipper (2005) introduced a generalized state-space model that allows for non-trivial unawareness … among several individuals and strong properties of knowledge. We show that this generalized state-space model arises …
Persistent link: https://www.econbiz.de/10010343960
restricted from higher to lower awareness levels. We use our unawareness belief structure to show that the common prior …We define a generalized state-space model with interactive unawareness and probabilistic beliefs. Such models are … desirable for many potential applications of asymmetric unawareness. We develop Bayesian games with unawareness, define …
Persistent link: https://www.econbiz.de/10010365853
The value of information is examined in a single-agent environment with unawareness. Although the agent has a correct … prior about events he is aware of and has a clear understanding of his available actions and payoffs, his unawareness may … negative, contrasting what is true in the standard model with partitional information and no unawareness. We show that the …
Persistent link: https://www.econbiz.de/10011263576
We generalize the ``No-speculative-trade" theorem for finite unawareness belief structures in Heifetz, Meier, and …
Persistent link: https://www.econbiz.de/10010250539
We prove a \no-speculative-trade" theorem under unawareness for the infinite case. This generalizes the result for the …
Persistent link: https://www.econbiz.de/10009782964
restricted from higher to lower awareness levels. We use our unawareness belief structure to show that the common prior …We define a generalized state-space model with interactive unawareness and probabilistic beliefs. Such models are … desirable for many potential applications of asymmetric unawareness. We develop Bayesian games with unawareness, define …
Persistent link: https://www.econbiz.de/10003728030
preference to trade. Moreover, we show a generalization of the "No-agreeing-to-disagree" theorem. -- Unawareness ; awareness …We define a generalized state-space model with interactive unawareness and probabilistic beliefs. Such models are … desirable for potential applications of asymmetric unawareness. We compare unawareness with probability zero belief. Applying …
Persistent link: https://www.econbiz.de/10003894997
We generalize the \No-trade" theorem for finite unawareness belief structures in Heifetz, Meier, and Schipper (2009) to …
Persistent link: https://www.econbiz.de/10003943569
I develop awareness-dependent subjective expected utility by taking unawareness structures introduced in Heifetz, Meier … events. I discuss in what sense impersonal expected utility can not represent unawareness. -- Unawareness ; awareness … awareness-dependent subject expected utility and assigns probability zero to some subsets of states that are not necessarily …
Persistent link: https://www.econbiz.de/10003943576