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Journal of Economic Theory, ISSN 0022-0531, 07/2019, Volume 182, pp. 161 - 184
We show that contrary to currently widely-held misperceptions, the classical no trade theorem obtains even under heterogeneous priors. That is, when priors are... 
Common knowledge | Common priors | No trade theorem | Rationality | Speculative trade | No betting theorem | BELIEFS | ECONOMICS
Journal Article
JOURNAL OF ECONOMIC THEORY, ISSN 0022-0531, 07/2019, Volume 182, pp. 185 - 217
We show that contrary to currently widely-held misperceptions, the classical no trade theorem obtains even under heterogeneous priors. That is, when priors are... 
No trade theorem | Rationality | Speculative trade | PERSUASION | No betting theorem | Common knowledge | ECONOMICS | Common priors
Journal Article
Theoretical Economics, ISSN 1933-6837, 05/2011, Volume 6, Issue 2, pp. 269 - 287
Aumann (1976) shows that agents who have a common prior cannot have common knowledge of their posteriors for event E if these posteriors do not coincide. But... 
common prior | Agreement theorem | C70 | common knowledge | no trade theorem | D82 | Common knowledge | No trade theorem | Common prior | DISAGREE | TRADE | AGGREGATE | ASYMMETRIC INFORMATION | CONSENSUS | BELIEFS | ECONOMICS | Agreeing theorem; common knowledge; common prior; no trade theorem
Journal Article
Journal of Economic Theory, ISSN 0022-0531, 2010, Volume 145, Issue 5, pp. 1675 - 1703
We study the possibility of trade for purely informational reasons. We depart from previous analyses (e.g. Grossman and Stiglitz (1980) [22] and Milgrom and... 
Trade | Information | No-trade theorems | Speculative trade | MARKET | EQUILIBRIUM | ECONOMICS | MODEL | ASSET PRICES | EFFICIENT | Information Trade Speculative trade No-trade theorems | Information services | Information services industry
Journal Article
Games and Economic Behavior, ISSN 0899-8256, 09/2015, Volume 93, pp. 108 - 116
We say that agreeing to agree is possible for an event E if there exist posterior beliefs of the agents with a common prior such that it is common knowledge... 
Dutch book | Common knowledge | No trade theorem | Agreement theorem | Common prior | COMMON PRIOR ASSUMPTION | PRIORS | TRADE | INFORMATION | PRIOR BELIEFS | ECONOMICS
Journal Article
B.E. Journal of Theoretical Economics, ISSN 1935-1704, 2011, Volume 11, Issue 1
We construct laboratory financial markets in which subjects can trade an asset whose value is unknown. Subjects receive private clues about the asset value and... 
no-trade theorem | laboratory experiment
Journal Article
Games and Economic Behavior, ISSN 0899-8256, 01/2014, Volume 83, pp. 165 - 177
Interpersonal consistency can be described in epistemic terms as a property of beliefs, or in economic terms as the impossibility of certain trades. The... 
Belief consistency | Dutch books | Agreeing to disagree | No-trade theorems | Type spaces | Common prior | COMMON PRIOR ASSUMPTION | PRIORS | ASYMMETRIC INFORMATION | KNOWLEDGE | RATIONALITY | DISAGREE | ECONOMICS | ITERATED EXPECTATIONS
Journal Article
Games and Economic Behavior, ISSN 0899-8256, 2011, Volume 71, Issue 1, pp. 66 - 87
We investigate a common value bilateral bargaining model with two-sided private information and no aggregate uncertainty. A seller owns an asset whose common... 
Bilateral bargaining | Private information | No-trade theorem | Laboratory experiment | Common values | INCOMPLETE INFORMATION | MECHANISM | GAMES | EQUILIBRIUM | VALUES | ECONOMICS | EXPECTATIONS | Bilateral bargaining Common values Private information No-trade theorem Laboratory experiment
Journal Article
Journal of Mathematical Economics, ISSN 0304-4068, 12/2015, Volume 61, pp. 67 - 73
In atomless differential information economies, equilibria are known not to exist prevalently even when agents are risk averse expected utility maximizers. The... 
Asymmetric information | Common knowledge | Independent information | Differential information | No-trade theorems | Competitive equilibrium | MATHEMATICS, INTERDISCIPLINARY APPLICATIONS | UNCERTAINTY | SOCIAL SCIENCES, MATHEMATICAL METHODS | VECTOR LATTICES | ECONOMICS | COMMODITIES
Journal Article
The Review of Economic Studies, ISSN 0034-6527, 4/2006, Volume 73, Issue 2, pp. 413 - 436
This paper models an agent in a three-period setting who does not update according to Bayes' Rule and who is self-aware and anticipates her updating behaviour... 
Economic models | Economic theory | Axioms | Temptation | Self control | Lotteries | Research design | Behavior modeling | Intuition | Financial portfolios | SAVAGE | ECONOMICS | STATE-SPACE | PREFERENCE | FLEXIBILITY | Bayesian statistical decision theory | Usage | Self-control | Psychological research | Axiomatic set theory | Research | Studies | Bayesian analysis | Behavior
Journal Article
Econometrica, ISSN 0012-9682, 11/1994, Volume 62, Issue 6, pp. 1327 - 1347
Journal Article
Journal of Economic Theory, ISSN 0022-0531, 2003, Volume 109, Issue 1, pp. 39 - 51
In an abstract model with asymmetric information, we show that there is a duality relationship between the prior beliefs and trading demands of bets for any... 
Duality | Separation Theorem | Common priors | No trade | separation theorem | no trade | ECONOMICS | common priors | duality | ASYMMETRIC INFORMATION | Models | Duality theory (Mathematics) | Government regulation of business | Separation anxiety (Child psychology)
Journal Article
B.E. journal of theoretical economics, ISSN 1935-1704, 04/2011, Volume 11, Issue 1
We construct laboratory financial markets in which subjects can trade an asset whose value is unknown. Subjects receive private clues about the asset value and... 
No-trade theorem | Laboratory experiments
Journal Article
The B.E. Journal of Theoretical Economics, ISSN 1935-1704, 2011, Volume 11, Issue 9
We construct laboratory financial markets in which subjects can trade an asset whose value is unknown. Subjects receive private clues about the asset value and... 
no-trade theorem; laboratory experiment
Journal Article
05/2011
[This item is a preserved copy. To view the original, visit http://econtheory.org/] Aumann has shown that agents who have a common prior cannot have common... 
Agreeing theorem, common knowledge, common prior, no trade theorem | C70, D82
Journal Article
Journal of Mathematical Economics, ISSN 0304-4068, 2003, Volume 39, Issue 8, pp. 849 - 861
This paper explores interactive epistemology within Morris’ [S. Morris, Alternative definitions of knowledge, in: M.O.L. Bacharach, L.-A. Gerard-Varet, P.... 
Decision-theoretic approach | No trade theorem | Agreeing to disagree | COMMON KNOWLEDGE | TRADE | INFORMATION | IGNORANCE | LOGIC | decision-theoretic approach | no trade theorem | KNIGHTIAN UNCERTAINTY | MATHEMATICS, INTERDISCIPLINARY APPLICATIONS | agreeing to disagree | EQUILIBRIUM | BELIEFS | SOCIAL SCIENCES, MATHEMATICAL METHODS | ECONOMICS
Journal Article
Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics), ISSN 0302-9743, 2004, Volume 3045, pp. 915 - 925
We investigate a pure exchange economy under uncertainty with emphasis on the logical point of view; the traders are assumed to have a multi-modal logic with... 
Distributed knowledge | No trade theorem | Multi-modal logics | Exchange economy under uncertainty | Rational expectations equilibrium | multi-modal logics | distributed knowledge | INFORMATION | COMPUTER SCIENCE, THEORY & METHODS | rational expectations equilibrium | no trade theorem | exchange economy under uncertainty
Journal Article
Latin American Journal of Economics-formerly Cuadernos de Economía, ISSN 0717-6821, 2005, Volume 42, Issue 126, pp. 199 - 208
We use the theory of learning in games to show that no-trade results do not require that gains from trade are common knowledge nor that play is a Nash... 
No-Trade Theorem; Common Knowledge; Learning; Self-Confirming Equilibria; Marginal Best-Response Distribution
Journal Article
Cuadernos de Economía, ISSN 0716-0046, 11/2005, Volume 42, Issue 126, pp. 199 - 207
Journal Article
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