Assignment:
Consider the following belief space, where the set of players is N = {I, II}, and the set of states of nature is S = {s1, s2}.
(a) List the types of the two players at each state of the world in Y .
(b) Can the beliefs of the players be derived from a common prior? If so, what is that common prior? If not, justify your answer.
Provide complete and step by step solution for the question and show calculations and use formulas.