Aggregate information, common knowledge, and agreeing not to bet
Loading...
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
I consider a gamble where the sum of the distributed payoffs is proportionate to the number of participants. I show that no subset of the population can agree to participate in the bet, if the size of the group is commonly known. Repeated announcements of the number of the participants leads the population to agree not to bet.
Description
Keywords
Gamble, private information, communication, common knowledge, JEL: D81, D82, D84, D89
Citation
ISBN
Articles
Department
Department of Economics