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Optimal design and p-concavity

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Author Info
Christian Ewerhart
Abstract

Tools from advanced real analysis and the Prékopa-Borell Theorem are combined to derive a tight sufficient condition for regularity (R. Myerson, Optimal auction design, Mathematics of Operations Research 6, 1981, pp. 58-73). The conventional log-concavity condition arises as a special case. The approach allows various generalizations, for instance to multidimensional types. Regularity is verified explicitly for numerous new families of parameterized distributions. Economic applications are outlined, in particular to the robustness of the modified Vickrey auction.

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Paper provided by Institute for Empirical Research in Economics - IEW in its series IEW - Working Papers with number iewwp409.

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Date of creation: Apr 2009
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Handle: RePEc:zur:iewwpx:409

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Related research
Keywords: Virtual valuation; Myerson regularity; Generalized concavity; Prékopa-Borell Theorem; Mechanism design;

Find related papers by JEL classification:
D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information
D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
D86 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Economics of Contract Law
C16 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Econometric and Statistical Methods; Specific Distributions

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This page was last updated on 2009-11-26.

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