Microfoundations of Myersonian Common Knowledge and Implications for Incomplete Information Core

Speaker: Prof Hülya Eraslan

Affiliation: Rice University

Location: Room S402, Social Sciences Building (#24), UQ St Lucia Campus.

Abstract

We formalize the hierarchical description of common knowledge under the Harsanyi (1967) information structure. We then show that the common knowledge concept of Myerson (1997), defined under the Harsanyi information structure and extensively used to study core under incomplete information, is related but not equivalent to the hierarchical description of common knowledge. Despite this non-equivalence, the core under the common knowledge concept of Myerson (1997) is equivalent to the core under the hierarchical description of common knowledge. Moreover, it is equivalent to the coarse core of Wilson (1978), defined under Aumann (1976) information structure, whenever attention is restricted to non-zero probability states.

About the presenter's meeting

If you would like to meet with Prof Eraslan, contact Dr Metin Uyanik