Abstract
The main purpose of this paper is to provide a simple criterion enabling to conclude that two agents do not share a common prior. The criterion is simple, as it does not require information about the agents' knowledge and beliefs, but rather only the record of a dialogue between the agents. In each stage of the dialogue, the agents tell each other the probability they ascribe to a fixed event and update their beliefs about the event. To characterize dialogues consistent with a common prior, we first study monologues, which are sequences of probabilities assigned by a single agent to a given event in an exogenous learning process. A dialogue is consistent with a common prior if and only if each selection sequence from the two monologues comprising the dialogue is itself a monologue.
Original language | English |
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Pages (from-to) | 587-615 |
Number of pages | 29 |
Journal | Theoretical Economics |
Volume | 17 |
Issue number | 2 |
DOIs | |
State | Published - May 2022 |
Keywords
- Bayesian dialogue
- Bayesian monologue
- D83
- Learning processes
- agreement
- joint fluctuation
- ratio variation