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Information Percolation

Author(s)
Duffie, Darrell; Giroux, Gaston; Manso, Gustavo
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Abstract
We study the "percolation" of information of common interest through a large market as agents encounter and reveal information to each other over time. We provide an explicit solution for the dynamics of the cross-sectional distribution of posterior beliefs. We also show that convergence of the cross-sectional distribution of beliefs to a common posterior is exponential and that the rate of convergence does not depend on the size of the groups of agents that meet. The rate of convergence is merely the mean rate at which an individual agent is matched.
Date issued
2010-02
URI
https://hdl.handle.net/1721.1/122797
Department
Sloan School of Management
Journal
American Economic Journal: Microeconomics
Publisher
American Economic Association
Citation
Duffie, Darrell, Gaston Giroux, and Gustavo Manso. 2010. "Information Percolation." American Economic Journal: Microeconomics, 2 (1): 100-111.
Version: Final published version
ISSN
1945-7669
1945-7685
Keywords
General Economics, Econometrics and Finance

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