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Full surplus extraction in mechanism design with information disclosure

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  • Daniel Kraehmer

Abstract

I study mechanism design settings with quasi-linear utility where the principal can provide agents with additional private information about their valuations beyond the private information they hold at the outset. I demonstrate that the principal can design information and a mechanism so as to fully extract the complete information first-best surplus if agents’ ex ante information only affects their beliefs about, yet not their valuations. Otherwise, the result holds if each agent’s initial private beliefs satisfy a spanning condition.

Suggested Citation

  • Daniel Kraehmer, 2018. "Full surplus extraction in mechanism design with information disclosure," CRC TR 224 Discussion Paper Series crctr224_2018_011, University of Bonn and University of Mannheim, Germany.
    • Handle: RePEc:bon:boncrc:crctr224_2018_011
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    File URL: https://www.crctr224.de/research/discussion-papers/archive/dp011
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    More about this item

    Keywords

    information design; mechanism design; quasi-linear utility; rent extraction;
    All these keywords.

    JEL classification:

    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • H57 - Public Economics - - National Government Expenditures and Related Policies - - - Procurement

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