Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/121268
Authors: 
Gizatulina, Alia
Hellwig, Martin
Year of Publication: 
2015
Series/Report no.: 
Preprints of the Max Planck Institute for Research on Collective Goods 2015/8
Abstract: 
McAfee and Reny (1992) have given a necessary and sufficient condition for full surplus extraction in models with a continuum of types. We interpret their condition as significantly stronger version of the requirement of injectiveness of the function mapping abstract types into beliefs and prove that their condition is satisfied by a generic set of model specifications. Our analysis involves an extension of the classical embedding theorem for continuous functions. Our proof does not rely on finite approximations and the topology on beliefs that we use is compatible with strategic continuity.
Subjects: 
mechanism design
surplus extraction
BDP
correlated information
strategic continuity
JEL: 
D82
D44
D40
D80
Document Type: 
Working Paper

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