We discuss the issue, raised by Mas-Colell (1991) whether the local uniqueness (relative to the L∞ topology) may be a generic property of equilibria in incomplete markets economies with a continuum of states.

We demonstrate the existence of an optimal, individually rational, and incentive compatible selling mechanism for a multiproduct monopolist facing a market populated by consumers with budget constraints. Our main contribution is to show that, in general, when facing consumers with budget...

In this note I prove the existence of the optimal-pay auction when signals are correlated.

It is an easy task for most commodity spaces, to find examples of strictly monotonic preference relations. For example, in the space of bounded sequences of real numbers. However, it is not easy for spaces like the space of bounded functions defined in the real interval [0, 1]. In this note we...

This note considers the problem of a principal (she) who faces a privately informed agent (he) and only knows one moment of the distribution from which his types are drawn. Payoffs are non-linear in the allocation and the principal maximizes her worst-case expected profits. We recast the robust...