Common learning with intertemporal dependence |
| |
Authors: | Martin W. Cripps Jeffrey C. Ely George J. Mailath Larry Samuelson |
| |
Affiliation: | 1. Department of Economics, University College London, London, WC1E 6BT, UK 2. Department of Economics, Northwestern University, Evanston, IL, 60208, USA 3. Department of Economics, University of Pennsylvania, Philadelphia, PA, 19104, USA 4. Department of Economics, Yale University, New Haven, CT, 06520, USA
|
| |
Abstract: | Consider two agents who learn the value of an unknown parameter by observing a sequence of private signals. Will the agents commonly learn the value of the parameter, i.e., will the true value of the parameter become approximate common-knowledge? If the signals are independent and identically distributed across time (but not necessarily across agents), the answer is yes (Cripps et al., Econometrica, 76(4):909–933, 2008). This paper explores the implications of allowing the signals to be dependent over time. We present a counterexample showing that even extremely simple time dependence can preclude common learning, and present sufficient conditions for common learning. |
| |
Keywords: | |
本文献已被 SpringerLink 等数据库收录! |
|