Research report 2013 - Max Planck Institute for Mathematics in the Sciences

Knowledge and awareness of economic actors

Authors
Kabalak, Alihan
Departments
Geometrie und komplexe Systeme
Summary
That a subject knows something is conceptualized as it ruling out certain facts while considering other facts possible. Thus the distinction between ‘ruled out’ and ‘possible’ draws upon a given set of conceivable facts. If in a model the knowledge of several subjects is based on the same conceivable facts, everyone receives the same information about what anyone can possibly know (identical ‘awareness’). Overcoming this restriction allows more differentiated analyses of economic decision making.

For the full text, see the German version.

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