Most games violate the common priors doctrine

Research output: Contribution to journalArticlepeer-review

Abstract

The type of a player in a game describes the beliefs of that player about the types of others. We show that the subset of vectors of such player-type beliefs which obey the consistency condition sometimes called the Harsanyi doctrine is of Lebesgue measure zero. Furthermore, as the number of players becomes large the ratio of the dimension Harsanyi-consistent beliefs to the set of all beliefs tends to zero.

Original languageEnglish (US)
Pages (from-to)189-194
Number of pages6
JournalInternational Journal of Economic Theory
Volume6
Issue number1
DOIs
StatePublished - 2010

Keywords

  • Bayesian games
  • Common priors
  • Harsanyi doctrine
  • Prior beliefs
  • Types

ASJC Scopus subject areas

  • Economics and Econometrics

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