Countable spaces and common priors

Hellman, Ziv

Countable spaces and common priors

International Journal of Game Theory, 2014, vol. 43, issue 1, 193-213

Abstract: We show that the no betting characterisation of the existence of common priors over finite type spaces extends only partially to improper priors in the countably infinite state space context: the existence of a common prior implies the absence of a bounded agreeable bet, and the absence of a common improper prior implies the existence of a bounded agreeable bet. However, a type space that lacks a common prior but has a common improper prior may or may not have a bounded agreeable bet. As a side-benefit of the proofs here, we also obtain a constructive proof of the no betting characterisation in finite spaces. Copyright Springer-Verlag Berlin Heidelberg 2014

Keywords: Common priors; Improper priors; Agreeing to disagree; No betting and no trade; Knowledge and beliefs; C02; C07; D82; D83 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (1)

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Working Paper: Countable Spaces and Common Priors (2012)
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DOI: 10.1007/s00182-013-0390-x

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