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dc.contributor.authorChen, Yi-Chun
Xiong, Siyang
dc.date.accessioned 2015-07-10T15:47:00Z
dc.date.available 2015-07-10T15:47:00Z
dc.date.issued 2013
dc.identifier.citation Chen, Yi-Chun and Xiong, Siyang. "Genericity and Robustness of Full Surplus Extraction." Econometrica, 81, no. 2 (2013) 825-847. http://dx.doi.org/10.3982/ECTA10123.
dc.identifier.urihttp://hdl.handle.net/1911/80877
dc.description.abstract We study whether priors that admit full surplus extraction (FSE) are generic, an issue that 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 made by 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
dc.language.iso eng
dc.rights This is an author's peer-reviewed final manuscript, as accepted by the publisher. The published article is copyrighted by Wiley.
dc.title Genericity and Robustness of Full Surplus Extraction
dc.type Journal article
dc.citation.journalTitle Econometrica
dc.subject.keywordsurplus extraction
information rents
universal type space
common prior
genericity
residual set
dc.citation.volumeNumber 81
dc.citation.issueNumber 2
dc.contributor.publisher Wiley
dc.type.dcmi Text
dc.identifier.doihttp://dx.doi.org/10.3982/ECTA10123
dc.type.publication post-print
dc.citation.firstpage 825
dc.citation.lastpage 847


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