Econ805AdvancedMicroTheory1分析.pptVIP

Quint - Patent Pools Econ 805Advanced Micro Theory 1 Dan Quint Fall 2008 Lecture 4 – Sept 11 2008 Today: Necessary and Sufficient Conditions For Equilibrium Tuesday’s big result was the Envelope Theorem Another fairly general necessary condition: monotonicity Single crossing and single crossing differences properties (Milgrom/Shannon) What single-crossing differences gives us So now, given a symmetric equilibrium with the bid function b… All these conditions are almost always satisfied by symmetric IPV auctions When is strict single crossing satisfied byg(x’,t) – g(x,t) = [ W(x’) – W(x) ]