In this note I explictly construct utility functions that (more or less) satisfy the conditions needed for the counterexample of Mas-Colell and Zame(1992)

We make three contributions to the theory of contracting under asymmetric information. First, we establish a competitive analog to the revelation principle which we call the implementation principle. This principle provides a complete characterization of all incentive compatible, indirect...

In this paper, we study an auction where bidders only know the number of potential applicants. After seeing their values for the object, bidders decide whether or not to enter the auction. Players may not want to enter the auction since they have to pay participation costs. We characterize the...

In this paper I prove that a quasiconcave separable utility defined on an atomless space is concave.

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