Ambiguous language and common priors

Joseph Halpern () and Willemien Kets

Games and Economic Behavior, 2015, vol. 90, issue C, 171-180

Abstract: Standard economic models cannot capture the fact that information is often ambiguous, and is interpreted in multiple ways. Using a framework that distinguishes between the language in which statements are made and the interpretation of statements, we demonstrate that, unlike in the case where there is no ambiguity, players may come to have different beliefs starting from a common prior, even if they have received exactly the same information, unless the information is common knowledge.

Keywords: Ambiguous language; Common prior; Agree to disagree; Harsanyi doctrine (search for similar items in EconPapers)
JEL-codes: C72 D83 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:gamebe:v:90:y:2015:i:c:p:171-180

DOI: 10.1016/j.geb.2015.01.007

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