Object-based unawareness: Theory and applications
In this paper and its companion paper, Board and Chung (2021), we provide foundations for a model of unawareness that can be used to distinguish between what an agent is unaware of and what she simply does not know. At an informal level, this distinction plays a key role in a number of recent papers...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Society for the Promotion of Mechanism and Institution Design
2022-12-01
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| Series: | Journal of Mechanism and Institution Design |
| Subjects: | |
| Online Access: |
http://www.mechanism-design.org/arch/v007-1/p_01.pdf
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| _version_ | 1828123217060954112 |
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| author | Oliver J. Board Kim-Sau Chung |
| author_facet | Oliver J. Board Kim-Sau Chung |
| author_sort | Oliver J. Board |
| collection | DOAJ |
| description | In this paper and its companion paper, Board and Chung (2021), we provide foundations for a model of unawareness that can be used to distinguish between what an agent is unaware of and what she simply does not know. At an informal level, this distinction plays a key role in a number of recent papers such as Tirole (2009) and Chung and Fortnow (2007). Here we provide a set-theoretic (i.e., non-linguistic) version of our framework. We use our object-based unawareness structures to investigate two applications. The first application provides a justification for the contra proferentem doctrine of contract interpretation, under which ambiguous terms in a contract are construed against the drafter. Our second application examines speculative trade. |
| first_indexed | 2024-04-11T14:48:19Z |
| format | Article |
| id | doaj.art-95f0376b0ab84be59a16ad0b6b89cad8 |
| institution | Directory Open Access Journal |
| issn | 2399-844X 2399-8458 |
| language | English |
| last_indexed | 2024-04-11T14:48:19Z |
| publishDate | 2022-12-01 |
| publisher | Society for the Promotion of Mechanism and Institution Design |
| record_format | Article |
| series | Journal of Mechanism and Institution Design |
| spelling | doaj.art-95f0376b0ab84be59a16ad0b6b89cad82022-12-22T04:17:34ZengSociety for the Promotion of Mechanism and Institution DesignJournal of Mechanism and Institution Design2399-844X2399-84582022-12-017114310.22574/jmid.2022.12.001jmi-v7i1a1Object-based unawareness: Theory and applicationsOliver J. Board0Kim-Sau Chung1 Paul | Weiss, USA Department of Economics, Hong Kong Baptist University, China In this paper and its companion paper, Board and Chung (2021), we provide foundations for a model of unawareness that can be used to distinguish between what an agent is unaware of and what she simply does not know. At an informal level, this distinction plays a key role in a number of recent papers such as Tirole (2009) and Chung and Fortnow (2007). Here we provide a set-theoretic (i.e., non-linguistic) version of our framework. We use our object-based unawareness structures to investigate two applications. The first application provides a justification for the contra proferentem doctrine of contract interpretation, under which ambiguous terms in a contract are construed against the drafter. Our second application examines speculative trade. http://www.mechanism-design.org/arch/v007-1/p_01.pdf unawarenesslegal doctrineno-trade theorem |
| spellingShingle | Oliver J. Board Kim-Sau Chung Object-based unawareness: Theory and applications Journal of Mechanism and Institution Design unawareness legal doctrine no-trade theorem |
| title | Object-based unawareness: Theory and applications |
| title_full | Object-based unawareness: Theory and applications |
| title_fullStr | Object-based unawareness: Theory and applications |
| title_full_unstemmed | Object-based unawareness: Theory and applications |
| title_short | Object-based unawareness: Theory and applications |
| title_sort | object based unawareness theory and applications |
| topic | unawareness legal doctrine no-trade theorem |
| url |
http://www.mechanism-design.org/arch/v007-1/p_01.pdf
|
| work_keys_str_mv | AT oliverjboard objectbasedunawarenesstheoryandapplications AT kimsauchung objectbasedunawarenesstheoryandapplications |