Interactive Unawareness

Heifetz, Aviad; Meier, Martin und Schipper, Burkhard C. (February 2005): Interactive Unawareness. SFB/TR 15 Discussion Paper No. 52

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.

• Item Type: Paper
• Keywords: unawareness, awareness, knowledge, interactive epistemology, speculative trade, bounded perception.
• Faculties: Special Research Fields > Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems; Special Research Fields > Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems > C4 - Experimentelle Analyse von rationalen und beschränkt rationalen Theorien des Marktverhaltens
• Subjects: 300 Social sciences > 330 Economics
• JEL Classification: C70, C72, D80, D82
• Language: English