The positive foundation of the common prior assumption

Aviad Heifetz

No 2003052, LIDAM Discussion Papers CORE from Université catholique de Louvain, Center for Operations Research and Econometrics (CORE)

Abstract: The existence of a common prior is a property of the state space used to model the players' incomplete information. We show that this property is not just a technical artifact of the model, but that it is immanent to the players' beliefs. To this end, we devise a condition, phrased solely in terms of the players' mutual beliefs about the basic, objective issues ofpossible uncertainty, which is equivalent to the existence of a common prior. This condition specifies a procedure of enquiry addressed to the players, which detects when there is no common prior among them.

Date: 2003-07
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