| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7900 |
| DP7900 Screening with an Approximate Type Space | |
| Andrea Prat; Kristóf Madarász | |
| 发表日期 | 2010-06-01 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | We re-visit the single-agent mechanism design problem with quasilinear preferences, but we assume that the principal knowingly operates on the basis of only an approximate type space rather than the (potentially complex) truth. We propose a two-step scheme, the profit-participation mechanism, whereby: (i) the principal `takes the model seriously' and computes the optimal menu for the approximate type space; (ii) but she discounts the price of each allocation proportionally to the profit that the allocation would yield in the approximate model. We characterize the bound to the profit loss and show that it vanishes smoothly as the distance between the approximate type space and the true type space converges to zero. Instead, we show that it is not a valid approximation to simply act as if the model was correct. |
| 主题 | Industrial Organization |
| 关键词 | Computational complexity Mechanism design Model uncertainty Nonlinear pricing Screening |
| URL | https://cepr.org/publications/dp7900 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536736 |
| 推荐引用方式 GB/T 7714 | Andrea Prat,Kristóf Madarász. DP7900 Screening with an Approximate Type Space. 2010. |
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