The Dirty Face Problem with Unawareness

The B.E. Journal of Theoretical Economics, 2008, vol. 8, issue 1, 20

Abstract: By revisiting the classic dirty-face problem we highlight the notion of `unawareness' (a simpler state space) and compare it with `impreciseness' (a coarser information partition). The outcomes are derived with various information structures. That allows us to 1) demonstrate a model of differing interpretations of public information using asymmetric awareness; 2) compare and contrast the impact of unawareness and impreciseness on learning; 3) analyze the value of awareness and the value of preciseness; and 4) demonstrate the effect of unawareness and impreciseness on information revelation with indirect aggregation.

Keywords: dirty face problem; barbecue problem; red hat problem; unawareness; impreciseness; different interpretation of public information; learning; value of awareness; indirect information aggreation (search for similar items in EconPapers)
Date: 2008
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DOI: 10.2202/1935-1704.1441

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