RDP 2007-12: Dynamic Pricing and Imperfect Common Knowledge
Equation
x
t
(
0
)
≡
x
t
x
t
|
s
(
1
)
≡
∫
E
[
x
t
|
I
s
(
j
)
]
d
j
x
t
|
s
(
2
)
≡
∫
E
[
x
t
|
s
(
1
)
|
I
s
(
j
)
]
d
j
x
t
|
s
(
k
)
≡
∫
E
[
x
t
|
s
(
k
−
1
)
|
I
s
(
j
)
]
d
j
.
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