Interactive Unawareness
CORE Discussion Paper No. 2004/59
19 Pages Posted: 25 Aug 2003
Date Written: February 16, 2005
Abstract
The standard state-spaces of asymmetric information preclude non-trivial forms of unawareness (Modica and Rustichini, 1994, Dekel, Lipman and Rustichini, 1998). We introduce a generalized state-space model that allows for non-trivial unawareness among several individuals, and which satisfies strong properties of knowledge as well as all the desiderata on unawareness proposed this far in the literature.
Keywords: unawareness, awareness, knowledge, interactive epistemology, speculative trade, bounded perception
JEL Classification: C70, C72, D80, D82
Suggested Citation: Suggested Citation
Heifetz, Aviad and Meier, Martin and Schipper, Burkhard C., Interactive Unawareness (February 16, 2005). CORE Discussion Paper No. 2004/59, Available at SSRN: https://ssrn.com/abstract=429540 or http://dx.doi.org/10.2139/ssrn.429540
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