Genericity and Robustness of Full Surplus Extraction
2012/05/25
研討會日期 : 2012-05-25
時間 : 14:30
主講人 : Professor Yi-Chun Chen
地點 : Conference Room B110
演講者簡介 : Yi-Chun Chen received his Ph.D. in Economics from Northwestern University in 2009. He is currently serving as Assistant Professor of Economics at National University of Singapore. His research field is in microeconomics theory, game theory, mathematical economics and information economics.
演講摘要 : We study whether priors that admit full surplus extraction (FSE) are generic, which becomes a gauge to evaluate the validity of the current mechanism design paradigm. We consider the space of priors on the universal type space, and thereby relax the assumption of a fixed finite number of types in Crémer and McLean (1988). We show that FSE priors are topologically generic, contrary to the result of Heifetz and Neeman (2006) that FSE is generically impossible, both geometrically and measure-theoretically. Instead of using the BDP approach or convex combinations of priors adopted in Heifetz and Neeman (2006), we prove our genericity results by showing a robustness property of Crémer-McLean mechanisms.
