Common knowledge of an aggregate of expectations
Author: Nielsen, Lars Tyge ; Brandenburger, J. ; Geanacoplos, R.INSEAD Area: FinanceIn: Econometrica, vol. 58, no. 5, September 1990 Language: EnglishDescription: p. 1235-1239.Type of document: INSEAD ArticleNote: Please ask us for this itemAbstract: When individuals make economic decisions based on diverse sources of information, market aggregates such as prices will to a greater or lesser extent reflect the pieces of information received. We show that if a stochastically monotone aggregate of a group's conditional expectations is common knowledge, then the expectations must be identical| Item type | Current location | Call number | Status | Date due | Barcode | Item holds |
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When individuals make economic decisions based on diverse sources of information, market aggregates such as prices will to a greater or lesser extent reflect the pieces of information received. We show that if a stochastically monotone aggregate of a group's conditional expectations is common knowledge, then the expectations must be identical
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