Preprints of the Max Planck Institute for Research on Collective Goods 2011,8
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.
belief systems consistency common prior large economy