A quantitative version of Myerson regularity
نویسنده
چکیده
In auction and mechanism design, Myerson’s classical regularity condition is often too weak for a quantitative analysis of performance. For instance, ratios between revenue and welfare, or sales probabilities may vanish at the boundary of Myerson regularity. This paper introduces λ-regularity as a quantitative measure of how regular a distribution is. λ-regularity includes Myerson regularity and the monotone hazard rate condition as special cases. We show that λ-regularity implies sharp bounds on various key quantities in auction theory, thus extending several recent findings from quantitative auction and mechanism design. JEL Classification: D44, D47, D82
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