Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5071646 | Games and Economic Behavior | 2015 | 18 Pages |
Abstract
Standard economic models cannot capture the fact that information is often ambiguous, and is interpreted in multiple ways. Using a framework that distinguishes between the language in which statements are made and the interpretation of statements, we demonstrate that, unlike in the case where there is no ambiguity, players may come to have different beliefs starting from a common prior, even if they have received exactly the same information, unless the information is common knowledge.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Joseph Y. Halpern, Willemien Kets,