Abstract
We introduce a new topology on information which evaluates the similarity between information fields taking into account their compatibility, that is, the events that are commonly observed. With this “topology of common information”, the Walrasian expectations equilibrium (Radner 1968) and the private core (Yannelis 1991) are upper semicontinuous
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We are grateful to Jean Gabszewicz, Dionysius Glycopantis, Jean-François Mertens, Diego Moreno, Emma Moreno-García, Allan Muir, Nicholas Yannelis, and to the referees, for helpful comments and suggestions. João Correia-da-Silva acknowledges support from Fundação para Ciência e Tecnologia and FEDER, and Carlos Hervés-Beloso acknowledges support by Research Grant BEC2003-09067-C04-01 from Ministerio de Ciencia y Tecnología and FEDER
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Correia-da-Silva, J., Hervés-Beloso, C. Private Information: Similarity as Compatibility. Economic Theory 30, 395–407 (2007). https://doi.org/10.1007/s00199-005-0066-2
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DOI: https://doi.org/10.1007/s00199-005-0066-2