Information Structures with Unawareness

Jing Li ()
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Jing Li: Department of Economics, University of Pennsylvania

PIER Working Paper Archive from Penn Institute for Economic Research, Department of Economics, University of Pennsylvania

Abstract: I construct a state space model with unawareness following Aumann (1976). Dekel, Lipman and Rustichini (1998a) show that standard state space models are incapable of representing unawareness. The model circumvents the impossibility result by endowing the agent with a subjective state space that differs from the full state space when he has the unawareness problem. Information is modeled as a pair, consisting of both factual information and awareness information. The model preserves the central properties of the standard information partition model.

Keywords: unawareness; information; information partition; state space models (search for similar items in EconPapers)
JEL-codes: C70 C72 D80 D82 D83 (search for similar items in EconPapers)
Pages: 22 pages
Date: 2008-06-01
New Economics Papers: this item is included in nep-gth
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Citations: View citations in EconPapers (4)

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