Finite Order Implications of Common Priors in Infinite Models

Barton Lipman ()

No WP2005-009, Boston University - Department of Economics - Working Papers Series from Boston University - Department of Economics

Abstract: Lipman [2003] shows that in a finite model, the common prior assumption has weak implications for finite orders of beliefs about beliefs. In particular, the only such implications are those stemming from the weaker assumption of a common support. To explore the role of the finite model assumption in generating this conclusion, this paper considers the finite order implications of common priors in a countable model. I show that in countable models, the common prior assumption also implies a tail consistency condition regarding beliefs. More specifically, I show that in a countable model, the finite order implications of the common prior assumption are the same as those stemming from the assumption that priors have a common support and have tail probabilities converging to zero at the same rate.

Pages: 26 pages
Date: 2005-03
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Journal Article: Finite order implications of common priors in infinite models (2010)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bos:wpaper:wp2005-009

Access Statistics for this paper

More papers in Boston University - Department of Economics - Working Papers Series from Boston University - Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Program Coordinator ().