318期 5月29日 ：Genericity and Robustness of Full Surplus Extraction（Yi-Chun Chen 助教授, National University of Singapore）

【主讲】Yi-Chun Chen 助教授 (National University of Singapore)

【主题】Genericity and Robustness of Full Surplus Extraction

【时间】2012年5月29日 (周二) 15：30-17：00

【地点】上海财经大学经济学院楼801室

【语言】英文

【摘要】We study whether priors that admit full surplus extraction (FSE) are generic, which 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 inCrémer and McLean(1988). We show that FSE priors are topologically generic, contrary to the result ofHeifetz 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 inHeifetz and Neeman(2006), we prove our genericity results by showing a robustness property ofCrémer-McLean mechanisms.