Cycles of length two in monotonic models

José Rodrigues-Neto

ANU Working Papers in Economics and Econometrics from Australian National University, College of Business and Economics, School of Economics

Abstract: In the context of partitional knowledge models, we prove that, in a monotonic model, any cycle equation can be obtained as the product of cycle equations corresponding to cycles of length two. Hence, if a model is monotonic, has finite states, and players' posteriors satisfy all cycle equations corresponding to cycles of length two, then these posteriors are consistent (i.e., there is a common prior). We also propose a new and elegant proof for one of the main results of Rodrigues-Neto 2012.

JEL-codes: C02 D80 D82 D83 (search for similar items in EconPapers)
Pages: 12 Pages
Date: 2012-10
New Economics Papers: this item is included in nep-bec
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:acb:cbeeco:2012-587

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