Nöldeke, Georg and Samuelson, Larry. (2015) The Implementation Duality. WWZ Working Papers, 2015 (01).
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Abstract
We use the theory of abstract convexity to study adverse-selection principal-agent problems and two-sided matching problems, departing from much of the literature by not requiring quasilinear utility. We formulate and characterize a basic underlying implementation duality. We show how this duality can be used to obtain a sharpening of the taxation principle, to obtain a general existence result for solutions to the principal-agent problem, to show that (just as in the quasilinear case) all increasing decision functions are implementable under a single crossing condition, and to obtain an existence result for stable outcomes featuring positive assortative matching in a matching model.
Faculties and Departments: | 06 Faculty of Business and Economics > Departement Wirtschaftswissenschaften > Professuren Wirtschaftswissenschaften > Mikroökonomische Theorie (Nöldeke) 12 Special Collections > WWZ Publications > WWZ Discussion Papers and Working Papers |
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UniBasel Contributors: | Nöldeke, Georg |
Item Type: | Working Paper |
Publisher: | WWZ, University of Basel |
Number of Pages: | 57 |
Note: | Publication type according to Uni Basel Research Database: Discussion paper / Internet publication |
Language: | English |
Identification Number: |
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edoc DOI: | |
Last Modified: | 07 Mar 2018 13:24 |
Deposited On: | 07 Mar 2018 13:24 |
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