Common Priors and Separation of Convex Sets

Dov Samet

Game Theory and Information from University Library of Munich, Germany

Abstract: We observe that the set of all priors of an agent is the convex hull of his types. A prior common to all agents exists, if the sets of the agents' priors have a point in common. We give a necessary and sufficient condition for the non-emptiness of the intersection of several closed convex subsets of the simplex, which is an extension of the separation theorem. A necessary and sufficient condition for the existence of common prior is a special case of this.

Keywords: prior; common prior; types; separation theorem (search for similar items in EconPapers)
JEL-codes: C81 F49 L11 R38 (search for similar items in EconPapers)
Pages: 2 pages
Date: 1997-01-28
Note: Type of Document - postscript; prepared on Unix; pages: 2
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Citations: View citations in EconPapers (3)

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Related works:
Journal Article: Common Priors and Separation of Convex Sets (1998)
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