The converse envelope theorem

• Tác giả: Ludvig Sinander
• Ngôn ngữ: eng
• Ký hiệu phân loại: 511.36 Proof theory and constructive mathematics
• Thông tin xuất bản: 2019
• Bộ sưu tập: Metadata
• ID: 163408

Tóm tắt

I prove an envelope theorem with a converse: the envelope formula is equivalent to a first-order condition. Like Milgrom and Segal's (2002) envelope theorem, my result requires no structure on the choice set. I use the converse envelope theorem to extend to general outcomes and preferences the canonical result in mechanism design that any increasing allocation is implementable, and apply this to selling information.