Abstract
The standard state-spaces of asymmetric information preclude non-trivial forms of unawareness (Modica and Rustichini (Theory Decision 37 (1994) 107–124); Dekel, Lipman and Rustichini (Econometrica 66 (1998) 159–173)). 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.
Original language | English |
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Pages (from-to) | 78-94 |
Journal | Journal of Economic Theory |
Volume | 130 |
Issue number | 1 |
Early online date | 25 May 2005 |
DOIs | |
Publication status | Published - 2006 |