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dc.contributor.authorHeifetz, Aviaden_US
dc.contributor.authorMeier, Martinen_US
dc.contributor.authorSchipper, Burkhard C.en_US
dc.date.accessioned2009-11-10en_US
dc.date.accessioned2012-06-12T13:33:35Z-
dc.date.available2012-06-12T13:33:35Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/58370-
dc.description.abstractWe 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 our unawareness belief structures, we show that the common prior assumption is too weak to rule out speculative trade in all states. Yet, we prove a generalized No-trade theorem according to which there can not be common certainty of strict preference to trade. Moreover, we show a generalization of the No-agreeing-to-disagree theorem.en_US
dc.language.isoengen_US
dc.publisherDep. of Economics, Univ. of California Davis, Calif.en_US
dc.relation.ispartofseriesWorking Papers, University of California, Department of Economics 09,20en_US
dc.subject.jelC70en_US
dc.subject.jelC72en_US
dc.subject.jelD80en_US
dc.subject.jelD82en_US
dc.subject.ddc330en_US
dc.subject.keywordunawarenessen_US
dc.subject.keywordawarenessen_US
dc.subject.keywordzero probabilityen_US
dc.subject.keywordtype-spaceen_US
dc.subject.keywordcommon prioren_US
dc.subject.keywordagreementen_US
dc.subject.keywordspeculative tradeen_US
dc.subject.keywordinteractive epistemologyen_US
dc.titleUnawareness, beliefs and speculative tradeen_US
dc.typeWorking Paperen_US
dc.identifier.ppn612520889en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Working Papers, Department of Economics, UC Davis

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