Approximate common knowledge revisited |
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Authors: | Stephen Morris |
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Institution: | (1) Department of Economics, University of Pennsylvania, 3718 Locust Walk, Philadelphia, PA 19104-6297, USA (e-mail: smorris@econ.sas.upenn.edu), US |
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Abstract: | Suppose we replace “knowledge” by “belief with probability p” in standard definitions of common knowledge. Very different notions arise depending on the exact definition of common knowledge
used in the substitution. This paper demonstrates those differences and identifies which notion is relevant in each of three
contexts: equilibrium analysis in incomplete information games, best response dynamics in incomplete information games, and
agreeing to disagree/no trade results. |
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Keywords: | : Common knowledge agreeing to disagree |
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