From Posteriors to Priors via Cycles: An Addendum

Martin Hellwig

No 2011_07, Discussion Paper Series of the Max Planck Institute for Research on Collective Goods from Max Planck Institute for Research on Collective Goods

Abstract: Rodrigues-Neto (2009) has shown that a given specification of posteriors of different players in an incomplete-information setting is compatible with a common prior if and only if the posteriors satisfy the so-called cycle equations. This note shows that, if, for any player, any element of the partition of the this player has a nonempty intersection with any element of the partition of any other player, then it suffices to verify the cycle equations for all cycles of length 4 or less.

Keywords: Belief systems; consistency; common priors; cycle equations (search for similar items in EconPapers)
JEL-codes: C72 C91 D03 D22 D43 D62 D81 H23 K21 K42 L13 L41 (search for similar items in EconPapers)
Date: 2011-05
New Economics Papers: this item is included in nep-mic
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Journal Article: From posteriors to priors via cycles: An addendum (2013)
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