Characterization of revenue equivalence


Heydenreich, Birgit and Müller, Rudolf and Uetz, Marc and Vohra, Rakesh (2008) Characterization of revenue equivalence. [Report]

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Abstract:The property of an allocation rule to be implementable in dominant strategies by a unique payment scheme is called \emph{revenue equivalence}. In this paper we give a characterization of revenue equivalence based on a graph theoretic interpretation of the incentive compatibility constraints. The characterization holds for any (possibly infinite) outcome space and many of the known results are immediate consequences. Moreover, revenue equivalence can be identified in cases where existing theorems are silent.
Item Type:Report
Electrical Engineering, Mathematics and Computer Science (EEMCS)
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Metis ID: 250857