Artikel
A non-differentiable approach to revenue equivalence
We give a sufficient condition on the type space for revenue equivalence when the set of social alternatives consists of probability distributions over a finite set. Types are identified with real-valued functions that assign valuations to elements of this finite set, and the type space is equipped with the Euclidean topology. Our sufficient condition is stronger than connectedness but weaker than smooth arcwise connectedness. Our result generalizes all existing revenue equivalence theorems when the set of social alternatives consists of probability distributions over a finite set. When the set of social alternatives is finite, we provide a necessary and sufficient condition. This condition is similar to, but slightly weaker than, connectedness.
- Sprache
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Englisch
- Erschienen in
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Journal: Theoretical Economics ; ISSN: 1555-7561 ; Volume: 2 ; Year: 2007 ; Issue: 4 ; Pages: 469-487 ; New York, NY: The Econometric Society
- Klassifikation
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Wirtschaft
Mathematical Methods
Noncooperative Games
Auctions
Asymmetric and Private Information; Mechanism Design
- Thema
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Revenue equivalence
mechanism design
incentive compatibility
non-differentiable approach
connected type space
- Ereignis
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Geistige Schöpfung
- (wer)
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Olszewski, Wojciech
Chung, Kim-Sau
- Ereignis
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Veröffentlichung
- (wer)
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The Econometric Society
- (wo)
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New York, NY
- (wann)
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2007
- Handle
- Letzte Aktualisierung
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10.03.2025, 11:45 MEZ
Datenpartner
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Objekttyp
- Artikel
Beteiligte
- Olszewski, Wojciech
- Chung, Kim-Sau
- The Econometric Society
Entstanden
- 2007
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