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Title:Incomplete-information models of large economies with anonymity: Existence and uniqueness of common priors PDF Logo
Authors:Hellwig, Martin
Issue Date:2011
Series/Report no.:Preprints of the Max Planck Institute for Research on Collective Goods 2011,8
Abstract:The paper provides a specification 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.
Subjects:belief systems
consistency
common prior
large economy
JEL:C70
D82
D83
Document Type:Working Paper
Appears in Collections:Preprints of the Max Planck Institute for Research on Collective Goods

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