Journal article
The converse envelope theorem
- Abstract:
- 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.
- Publication status:
- Published
- Peer review status:
- Peer reviewed
Actions
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- Files:
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(Preview, Version of record, pdf, 229.1KB, Terms of use)
-
- Publisher copy:
- 10.3982/ECTA18119
Authors
- Publisher:
- Econometric Society
- Journal:
- Econometrica More from this journal
- Volume:
- 90
- Issue:
- 6
- Pages:
- 2795-2819
- Publication date:
- 2022-11-22
- Acceptance date:
- 2022-07-15
- DOI:
- EISSN:
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1468-0262
- ISSN:
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0012-9682
- Language:
-
English
- Keywords:
- Pubs id:
-
1265655
- Local pid:
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pubs:1265655
- Deposit date:
-
2022-06-26
Terms of use
- Copyright holder:
- Ludvig Sinander
- Copyright date:
- 2022
- Rights statement:
- © 2022 The Author. Econometrica published by John Wiley & Sons Ltd on behalf of The Econometric Society This is an open access article under the terms of the Creative Commons Attribution-NonCommercial-NoDerivs License, which permits use and distribution in any medium, provided the original work is properly cited, the use is non-commercial and no modifications or adaptations are made.
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