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T-Space at The University of Toronto Libraries >
Theoretical Economics >
Volume 2, Number 4 (December 2007) >

Please use this identifier to cite or link to this item: http://hdl.handle.net/1807/10273

Title: A non-differentiable approach to revenue equivalence
Authors: Kim-Sau Chung; University of Minnesota
Wojciech Olszewski; Northwestern University
Keywords: Revenue equivalence, mechanism design, incentive compatibility, non-differentiable approach, connected type space
C02, C72, D44, D82
Issue Date: 13-Dec-2007
Publisher: Theoretical Economics
Citation: Theoretical Economics; Vol 2, No 4 (2007)
Abstract: [This item is a preserved copy. To view the original, visit http://econtheory.org/] 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.
URI: http://hdl.handle.net/1807/10273
Other Identifiers: http://econtheory.org/ojs/index.php/te/article/view/20070469
Rights: Authors who publish in <i>Theoretical Economics</i> will release their articles under the <a href="http://creativecommons.org/licenses/by-nc/2.5/">Creative Commons Attribution-NonCommercial license</a>. This license allows anyone to copy and distribute the article for non-commercial purposes provided that appropriate attribution is given.
Appears in Collections:Volume 2, Number 4 (December 2007)

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