Communication, timing, and common learning

0358763 - NHÚ 2012 RIV US eng J - Journal Article
Steiner, Jakub - Stewart, C.
Communication, timing, and common learning.
Journal of Economic Theory. Roč. 146, č. 1 (2011), s. 230-247. ISSN 0022-0531. E-ISSN 1095-7235
Institutional research plan: CEZ:AV0Z70850503
Keywords : common knowledge * learning * communication
Subject RIV: AH - Economics
Impact factor: 1.235, year: 2011

We study the effect of stochastically delayed communication on previous termcommonnext term knowledge acquisition (previous termcommon learning)next term. If messages do not report dispatch times, communication prevents previous termcommon learningnext term under general conditions even if previous termcommonnext term knowledge is acquired without communication. If messages report dispatch times, communication can destroy previous termcommon learningnext term under more restrictive conditions. The failure of previous termcommon learningnext term in the two cases is based on different infection arguments. Communication can destroy previous termcommon learningnext term even if it ends in finite time, or if agents communicate all of their information. We also identify conditions under which previous termcommon learningnext term is preserved in the presence of communication.
Permanent Link: http://hdl.handle.net/11104/0196706