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Local incentive compatibility on gross substitutes and other non-convex type-spaces

Author

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  • Kumar, Ujjwal
  • Roy, Souvik

Abstract

We explore the equivalence of local incentive compatibility (LIC) (Carroll 2012) and incentive compatibility (IC) in non-convex type-spaces. We provide a sufficient condition on a type-space called richness for the said equivalence. Using this result, we show that LIC and IC are equivalent on large class of non-convex type-spaces which include the gross substitutes type-space and the generalized gross substitutes and complements type-space. Finally, we provide a geometric property consisting of three conditions for the equivalence of LIC and IC, and show that all the conditions are indispensable.

Suggested Citation

  • Kumar, Ujjwal & Roy, Souvik, 2024. "Local incentive compatibility on gross substitutes and other non-convex type-spaces," Journal of Mathematical Economics, Elsevier, vol. 112(C).
    • Handle: RePEc:eee:mateco:v:112:y:2024:i:c:s030440682400051x
    DOI: 10.1016/j.jmateco.2024.102989
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