Please use this identifier to cite or link to this item: https://doi.org/10.1016/j.jet.2010.12.005
Title: The genericity of beliefs-determine-preferences models revisited
Authors: Chen, Y.-C. 
Xiong, S.
Keywords: Beliefs-determine-preferences priors
Common priors
Full surplus extraction
Mechanism design
Issue Date: Mar-2011
Source: Chen, Y.-C., Xiong, S. (2011-03). The genericity of beliefs-determine-preferences models revisited. Journal of Economic Theory 146 (2) : 751-761. ScholarBank@NUS Repository. https://doi.org/10.1016/j.jet.2010.12.005
Abstract: Barelli [P. Barelli, On the genericity of full surplus extraction in mechanism design, J. Econ. Theory 144 (2009) 1320-1332] defines beliefs-determine-preferences (BDP) models and argues that BDP models are nongeneric in a topological sense. In this note, we point out some difficulties in Barelli's approach. Furthermore, we follow the idea of Heifetz and Neeman [A. Heifetz, Z. Neeman, On the generic (im)possibility of full surplus extraction, Econometrica 74 (2006) 213-233] to propose a more relevant notion of BDP* model. We prove that BDP* models are generic, which is opposite to Barelli's conclusion. © 2010 Elsevier Inc.
Source Title: Journal of Economic Theory
URI: http://scholarbank.nus.edu.sg/handle/10635/52133
ISSN: 00220531
DOI: 10.1016/j.jet.2010.12.005
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