dc.contributorEscolas::EPGE
dc.contributorFGV
dc.creatorMonteiro, Paulo Klinger
dc.date.accessioned2008-05-13T15:33:17Z
dc.date.available2008-05-13T15:33:17Z
dc.date.created2008-05-13T15:33:17Z
dc.date.issued2007-03-01
dc.identifier0104-8910
dc.identifierhttp://hdl.handle.net/10438/762
dc.description.abstractIn this note, in an independent private values auction framework, I discuss the relationship between the set of types and the distribution of types. I show that any set of types, finite dimensional or not, can be extended to a larger set of types preserving incentive compatibility constraints, expected revenue and bidder’s expected utilities. Thus for example we may convexify a set of types making our model amenable to the large body of theory in economics and mathematics that relies on convexity assumptions. An interesting application of this extension procedure is to show that although revenue equivalence is not valid in general if the set of types is not convex these mechanism have underlying distinct allocation mechanism in the extension. Thus we recover in these situations the revenue equivalence.
dc.languageeng
dc.publisherEscola de Pós-Graduação em Economia da FGV
dc.relationEnsaios Econômicos;643
dc.subjectOptimal auction
dc.subjectIndependent private values
dc.subjectRevenue equivalence
dc.subjectMechanism design
dc.titleAbstract types and distributions in independent private value auctions
dc.typeWorking Paper


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