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Common learning

Cripps, M.; Ely, J.; Mailath, G.; Samuelson, L.; (2007) Common learning. (ELSE Working Papers 254). ESRC Centre for Economic Learning and Social Evolution: London, UK. Green open access

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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 > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Economics
URI: https://discovery.ucl.ac.uk/id/eprint/14444
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