Feasible Joint Posterior Beliefs

Itai Arieli, Yakov Babichenko, Fedor Sandomirskiy and Omer Tamuz

Papers from arXiv.org

Abstract: We study the set of possible joint posterior belief distributions of a group of agents who share a common prior regarding a binary state, and who observe some information structure. For two agents we introduce a quantitative version of Aumann's Agreement Theorem, and show that it is equivalent to a characterization of feasible distributions due to Dawid et al. (1995). For any number of agents, we characterize feasible distributions in terms of a "no-trade" condition. We use these characterizations to study information structures with independent posteriors. We also study persuasion problems with multiple receivers, exploring the extreme feasible distributions.

Date: 2020-02, Revised 2020-12
New Economics Papers: this item is included in nep-gth and nep-mic
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Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:2002.11362

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