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Characterization of Revenue Equivalence

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Author Info
Birgit Heydenreich
Rudolf Müller
Marc Uetz
Rakesh V. Vohra

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Abstract

The property of an allocation rule to be implementable in dominant strategies by a unique payment scheme is called revenue equivalence. We give a characterization of revenue equivalence based on a graph theoretic interpretation of the incentive compatibility constraints. The characterization holds for any (possibly infinite) outcome space and many of the known results are immediate consequences. Moreover, revenue equivalence can be identified in cases where existing theorems are silent. Copyright 2009 The Econometric Society.

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File URL: http://hdl.handle.net/10.3982/ECTA7168
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Publisher Info
Article provided by Econometric Society in its journal Econometrica.

Volume (Year): 77 (2009)
Issue (Month): 1 (01)
Pages: 307-316
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Handle: RePEc:ecm:emetrp:v:77:y:2009:i:1:p:307-316

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  1. Paul Milgrom & Ilya Segal, 2002. "Envelope Theorems for Arbitrary Choice Sets," Econometrica, Econometric Society, vol. 70(2), pages 583-601, March. [Downloadable!] (restricted)
  2. Green, Jerry & Laffont, Jean-Jacques, 1977. "Characterization of Satisfactory Mechanisms for the Revelation of Preferences for Public Goods," Econometrica, Econometric Society, vol. 45(2), pages 427-38, March. [Downloadable!] (restricted)
  3. Hongwei Gui & Rudolf M¨uller & Rakesh V. Vohra, 2004. "Dominant Strategy Mechanisms with Multidimensional Types," Discussion Papers 1392, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
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  4. Olszewski, Wojciech & Chung, Kim-Sau, 2007. "A non-differentiable approach to revenue equivalence," Theoretical Economics, Society for Economic Theory, vol. 2(4), pages 469-487, December. [Downloadable!]
  5. Muller, Rudolf & Perea, Andres & Wolf, Sascha, 2007. "Weak monotonicity and Bayes-Nash incentive compatibility," Games and Economic Behavior, Elsevier, vol. 61(2), pages 344-358, November. [Downloadable!] (restricted)
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  6. Klemperer, P., 1999. "Auction Theory: a Guide to the Literature," Economics Papers 1999-w12, Economics Group, Nuffield College, University of Oxford.
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  7. Krishna, Vijay & Maenner, Eliot, 2001. "Convex Potentials with an Application to Mechanism Design," Econometrica, Econometric Society, vol. 69(4), pages 1113-19, July.
  8. Sushil Bikhchandani & Shurojit Chatterji & Ron Lavi & Ahuva Mu'alem & Noam Nisan & Arunava Sen, 2006. "Weak Monotonicity Characterizes Deterministic Dominant-Strategy Implementation," Econometrica, Econometric Society, vol. 74(4), pages 1109-1132, 07. [Downloadable!] (restricted)
  9. Jehiel, Philippe & Moldovanu, Benny, 2001. "Efficient Design with Interdependent Valuations," Econometrica, Econometric Society, vol. 69(5), pages 1237-59, September.
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  10. Jeroen Suijs, 1996. "On incentive compatibility and budget balancedness in public decision making," Review of Economic Design, Springer, vol. 2(1), pages 193-209, December. [Downloadable!] (restricted)
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