Interactive Unawareness

Aviad Heifetz, Martin Meier and Burkhard Schipper

Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems from Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich

Abstract: The standard state-spaces of asymmetric information preclude non-trivial forms of unawareness (Modica and Rustichini, 1994, Dekel, Lipman and Rustichini, 1998). We introduce a generalized state-space model that allows for non-trivial unawareness among several individuals, and which satisfies strong properties of knowledge as well as all the desiderata on unawareness proposed this far in the literature.

Keywords: unawareness; awareness; knowledge; interactive epistemology; speculative trade; bounded perception. (search for similar items in EconPapers)
JEL-codes: C70 C72 D80 D82 (search for similar items in EconPapers)
Date: 2005-02
New Economics Papers: this item is included in nep-gth
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

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Related works:
Journal Article: Interactive unawareness (2006)
Working Paper: Interactive unawareness (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:trf:wpaper:52

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