Interactive Unawareness

CORE Discussion Paper No. 2004/59

19 Pages Posted: 25 Aug 2003

See all articles by Aviad Heifetz

Aviad Heifetz

Open University of Israel - Department of Economics and Management

Martin Meier

Catholic University of Louvain (UCL) - Center for Operations Research and Econometrics (CORE)

Burkhard C. Schipper

University of California, Davis - Department of Economics

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

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

Aviad Heifetz

Open University of Israel - Department of Economics and Management ( email )

108 Ravutski st.
P.O. B. 808
Raanana, 43107
Israel
+972 9 778 1878 (Phone)
+972 9 778 0668 (Fax)

HOME PAGE: http://www.openu.ac.il/Personal_sites/Aviad-Heifetz.html

Martin Meier

Catholic University of Louvain (UCL) - Center for Operations Research and Econometrics (CORE) ( email )

34 Voie du Roman Pays
B-1348 Louvain-la-Neuve, b-1348
Belgium

Burkhard C. Schipper (Contact Author)

University of California, Davis - Department of Economics ( email )

One Shields Drive
Davis, CA 95616-8578
United States
530-752-6142 (Phone)
530-752-9382 (Fax)

HOME PAGE: http://www.econ.ucdavis.edu/faculty/schipper/

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