演講者簡介 : Professor Sanket Patil received his PhD from Northwestern University in 2022. He is an assistant professor at the Indian Institute of Management Bangalore. His research fields are Microeconomic Theory with a focus on Behavioral Theory and Organizational Economics.
演講摘要 : We study undominated mechanisms with transfers for regulating a monopolist who privately observes the marginal cost of production. We show that in any undominated mechanism, there is a quantity floor, which depends only on the primitives, and the regulator's operation decision is stochastic only if the monopolist produces at the quantity floor. We provide a near-complete characterization of the set of undominated mechanisms and use it to (a) provide a foundation for deterministic mechanisms, (b) show that the efficient mechanism is dominated, and (c) derive a max-min optimal regulatory mechanism.
