Cripps, M. and Ely, J. and Mailath, G. and Samuelson, L. (2007) Common learning. (ELSE Working Papers 254). ESRC Centre for Economic Learning and Social Evolution: London, UK.
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Abstract
Consider two agents who learn the value of an unknown parameter by observing a sequence of private signals. The signals are independent and identically distributed across time but not necessarily agents. Does it follow that the agents will commonly learn its value, i.e., that the true value of the parameter will become (approximate) common-knowledge? We show that the answer is affirmative when each agent’s signal space is finite and show by example that common learning can fail when observations come from a countably infinite signal space.
| Type: | Working / discussion paper |
|---|---|
| Title: | Common learning |
| Open access status: | An open access version is available from UCL Discovery |
| Publisher version: | http://else.econ.ucl.ac.uk/newweb/papers.php#2007 |
| Language: | English |
| Keywords: | JEL classification: D82, D83. Common learning, common belief, private signals, private beliefs |
| UCL classification: | UCL > School of Arts and Social Sciences > Faculty of Social and Historical Sciences > Economics |
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