From posteriors to priors via cycles: An addendum

Martin Hellwig

Economics Letters, 2013, vol. 118, issue 3, 455-458

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 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: D82 D83 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (4)

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Working Paper: From Posteriors to Priors via Cycles: An Addendum (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:118:y:2013:i:3:p:455-458

DOI: 10.1016/j.econlet.2012.12.008

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