Martin F. Hellwig

Max Planck Institute for Research on Collective Goods

Professor Dr. Economics, Director

Kurt-Schumacher-Str. 10

D-53113 Bonn, 53113

Germany

University of Bonn - Department of Economics

Professor of Economics

Adenauerallee 24-42

D-53113 Bonn

Germany

European Corporate Governance Institute (ECGI)

c/o the Royal Academies of Belgium

Rue Ducale 1 Hertogsstraat

1000 Brussels

Belgium

  • Max Planck Institute for Research on Collective Goods

  • European Corporate Governance Institute (ECGI)

SCHOLARLY PAPERS

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Scholarly Papers (61)

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1.

Fallacies, Irrelevant Facts, and Myths in the Discussion of Capital Regulation: Why Bank Equity is Not Socially Expensive

Max Planck Institute for Research on Collective Goods 2013/23, Rock Center for Corporate Governance at Stanford University Working Paper No. 161, Stanford University Graduate School of Business Research Paper No. 13-7
Number of pages: 77 Posted: 04 Nov 2013 Last Revised: 12 Jan 2016
Anat R. Admati, Peter M. DeMarzo, Martin F. Hellwig and Paul C. Pfleiderer
Stanford Graduate School of Business, Stanford Graduate School of Business, Max Planck Institute for Research on Collective Goods and Stanford Graduate School of Business
Downloads 9,796 (968)
Citation 180

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capital regulation, financial institutions, capital structure, 'too big to fail,' systemic risk, bank equity, contingent capital, Basel, market discipline

2.

Systemic Risk in the Financial Sector: An Analysis of the Subprime-Mortgage Financial Crisis

MPI Collective Goods Preprint, No. 2008/43
Number of pages: 77 Posted: 01 Dec 2008
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 3,218 (6,396)
Citation 82

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Mortgage Securitization, Subprime-Mortgage Financial Crisis, Systemic Risk, Banking Regulation, Capital Requirements

3.

Debt Overhang and Capital Regulation

Rock Center for Corporate Governance at Stanford University Working Paper No. 114, MPI Collective Goods Preprint, No. 2012/5
Number of pages: 42 Posted: 30 Mar 2012
Anat R. Admati, Peter M. DeMarzo, Martin F. Hellwig and Paul C. Pfleiderer
Stanford Graduate School of Business, Stanford Graduate School of Business, Max Planck Institute for Research on Collective Goods and Stanford Graduate School of Business
Downloads 2,009 (13,472)
Citation 32

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capital regulation, financial institutions, capital structure, “too big to fail,” systemic risk, bank equity, debt overhang, underinvestment, recapitalization, deleveraging, bankruptcy costs, Basel

4.

The Leverage Ratchet Effect

Journal of Finance, Volume 73, Issue 1, February 2018
Number of pages: 56 Posted: 02 Aug 2013 Last Revised: 02 Mar 2018
Anat R. Admati, Peter M. DeMarzo, Martin F. Hellwig and Paul C. Pfleiderer
Stanford Graduate School of Business, Stanford Graduate School of Business, Max Planck Institute for Research on Collective Goods and Stanford Graduate School of Business
Downloads 1,759 (16,595)
Citation 82

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capital structure, leverage, agency costs of debt, dynamic capital structure, tradeoff theory of capital structure, capital regulation, bank equity, debt overhang, under-investment, recapitalization, deleveraging, bankruptcy costs

5.

Capital Regulation after the Crisis: Business as Usual?

MPI Collective Goods Preprint, No. 2010/31
Number of pages: 23 Posted: 21 Jul 2010 Last Revised: 26 Aug 2010
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 1,633 (18,654)
Citation 61

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financial crisis, Basel Accord, banking regulation, capital requirements, modelbased approach, systemic risk

6.

The Parade of the Bankers’ New Clothes Continues: 34 Flawed Claims Debunked

Rock Center for Corporate Governance at Stanford University Working Paper No. 143, Stanford University Graduate School of Business Research Paper No. 15-58
Number of pages: 36 Posted: 11 Jul 2013 Last Revised: 29 Aug 2019
Anat R. Admati and Martin F. Hellwig
Stanford Graduate School of Business and Max Planck Institute for Research on Collective Goods
Downloads 1,606 (19,093)
Citation 9

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capital regulation, financial institutions, capital structure, capital regulation, too big to fail, systemic risk, bank equity, contingent capital

7.

Competition Policy and Sector-Specific Regulation for Network Industries

MPI Collective Goods Preprint, No. 2008/29
Number of pages: 38 Posted: 29 Sep 2008
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 1,473 (21,842)
Citation 8

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Network Industries, Competition Policy, Sector-Specific Regulation

8.

Financial Stability, Monetary Policy, Banking Supervision, and Central Banking

MPI Collective Goods Preprint, No. 2014/9
Number of pages: 42 Posted: 05 Aug 2014
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 762 (55,625)
Citation 29

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Banking Supervision, financial stability, monetary policy, central banking, bank resolution, independence of central banks and supervisory authorities

9.

Bank Leverage, Welfare, and Regulation

Rock Center for Corporate Governance at Stanford University Working Paper No. 235, Stanford University Graduate School of Business Research Paper No. 3729, MPI Collective Goods Discussion Paper, No. 2018/13
Number of pages: 22 Posted: 02 Oct 2018 Last Revised: 10 May 2019
Anat R. Admati and Martin F. Hellwig
Stanford Graduate School of Business and Max Planck Institute for Research on Collective Goods
Downloads 634 (70,762)
Citation 1

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Liquidity in banking, leverage in banking, banking regulation, capital structure, capital regulations, agency costs, commitment, contracting, maturity rat race, leverage ratchet effect, Basel

10.

Does Debt Discipline Bankers? An Academic Myth About Bank Indebtedness

Rock Center for Corporate Governance at Stanford University Working Paper No. 132
Number of pages: 38 Posted: 13 Feb 2013 Last Revised: 20 Feb 2013
Anat R. Admati and Martin F. Hellwig
Stanford Graduate School of Business and Max Planck Institute for Research on Collective Goods
Downloads 538 (87,218)
Citation 21

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bank debt, bank equity, banking theory, fragility of bank funding, debt overhang

11.

Yes Virginia, There is a European Banking Union! But it May Not Make Your Wishes Come True

MPI Collective Goods Preprint, No. 2014/12
Number of pages: 31 Posted: 27 Aug 2014
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 509 (93,039)
Citation 22

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European Central Bank, Banking Supervision, bank resolution, European Banking Union, too-big-to-fail, sovereign debt

12.

Market Discipline, Information Processing, and Corporate Governance

MPI Collective Goods Preprint No. 2005/19
Number of pages: 25 Posted: 03 Jan 2006
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 502 (94,602)
Citation 7

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13.

Private Damage Claims and the Passing-On Defense in Horizontal Price-Fixing Cases: An Economist's Perspective

MPI Collective Goods Preprint No. 2006/22
Number of pages: 31 Posted: 10 Oct 2006
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 497 (95,671)
Citation 15

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Horizontal Price Fixing, Passing-On Defense, Private Damage Claims

14.

The Financial Crisis and Regulatory Reform (in German)

MPI Collective Goods Preprint, No. 2010/19
Number of pages: 46 Posted: 29 May 2010 Last Revised: 08 Jun 2010
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 462 (104,526)

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15.

Neoliberales Sektierertum oder Wissenschaft? Zum Verhältnis von Grundlagenforschung und Politikanwendung in der Ökonomie (Neoliberal Religious Sect or Science? On the Relation between Academic Research and Real-World Policy Advice in Economics)

MPI Collective Goods Preprint, No. 2015/17
Number of pages: 19 Posted: 12 Nov 2015
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 316 (160,099)
Citation 1

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16.

Financial Stability and Monetary Policy

MPI Collective Goods Preprint, No. 2015/10
Number of pages: 32 Posted: 04 Aug 2015
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 294 (172,707)
Citation 5

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financial stability, Systemic Risk, monetary policy, central banking

17.

Quo Vadis, Euroland? European Monetary Union between Crisis and Reform

MPI Collective Goods Preprint No. 2011/12
Number of pages: 16 Posted: 07 Jul 2011
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 289 (175,889)
Citation 9

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European Monetary Union, sovereign debt crisis, bank supervision

18.

Optimal Income Taxation, Public-Goods Provision and Public-Sector Pricing: A Contribution to the Foundations of Public Economics

Number of pages: 57 Posted: 12 Nov 2004
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 261 (195,054)
Citation 64

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Optimal Income Taxation, Public Goods, Public-Sector Pricing, Multidimensional Mechanism Design, Ramsey-Boiteux Pricing

19.

Discrete-Time Approximations of the Holmstrom-Milgrom Brownian-Motion Model of Intertemporal Incentive Provision

Number of pages: 57 Posted: 16 Aug 2001
Martin F. Hellwig and Klaus M. Schmidt
Max Planck Institute for Research on Collective Goods and Ludwig Maximilian University of Munich (LMU) - Faculty of Economics
Downloads 248 (205,093)
Citation 9

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Principal-agent problems, linear incentive schemes, intertemporal incentive provision, Brownian motion

20.

A Reconsideration of the Jensen-Meckling Model of Outside Finance

MPI Collective Goods Preprint No. 2007/8
Number of pages: 60 Posted: 05 Jun 2007
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 225 (225,374)
Citation 12

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Financial Contracting, Debt Finance, Equity Finance, Moral Hazard, Risk Choices

21.

A Contribution to the Theory of Optimal Utilitarian Income Taxation

Downloads 221 (229,212)
Citation 16

A Contribution to the Theory of Optimal Utilitarian Income Taxation

MPI Collective Goods Preprint No. 2007/2
Number of pages: 60 Posted: 07 Mar 2007
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 124 (374,880)
Citation 6

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Optimal Income Taxation, Utilitarian Welfare Maximization, Redistribution

A Contribution to the Theory of Optimal Utilitarian Income Taxation

MPI Collective Goods Preprint No. 2005/23
Number of pages: 53 Posted: 08 Dec 2005
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 97 (448,003)
Citation 7

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Optimal Income Taxation, Utilitarian Welfare Maximization, Redistribution

22.

Property Taxes and Dynamic Inefficiency: A Correction of a 'Correction'

MPI Collective Goods Discussion Paper, No. 2020/15
Number of pages: 10 Posted: 07 Jul 2020
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 212 (238,236)

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Property taxes, dynamic inefficiency, overaccumulation of capital, land

23.

Competition Policy and Sector-Specific Regulation in the Financial Sector

MPI Collective Goods Discussion Paper, No. 2018/7
Number of pages: 27 Posted: 12 Jul 2018 Last Revised: 13 Jul 2018
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 210 (240,286)
Citation 1

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Financial Regulation, Competition Policy, Government Guarantees, Bank Bailouts, State Aid Control

24.

Bargeld, Giralgeld, Vollgeld: Zur Diskussion um das Geldwesen nach der Finanzkrise [The Discussion About Central Banks, Commercial Banks, the Monetary System and Monetary Reform after the Great Financial Crisis] (Paper in German)

MPI Collective Goods Discussion Paper, No. 2018/10
Number of pages: 40 Posted: 03 Aug 2018
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 209 (241,349)

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Cash, demand deposits, central banking, commercial banking, narrow banking, monetary policy

25.

'Capitalism: What Has Gone Wrong?' Who Went Wrong? Capitalism? The Market Economy? Governments? 'Neoliberal' Economics?

Oxford Review of Economic Policy, Forthcoming, MPI Collective Goods Discussion Paper, No. 2021/15
Number of pages: 19 Posted: 13 Aug 2021
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 203 (247,894)

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Capitalism, structural change, executive remuneration, public-sector retrenchment, “efficiency”, symbiosis of economic and political power

26.

Risk Aversion in the Small and in the Large. When Outcomes are Multidimensional

Number of pages: 27 Posted: 21 Jul 2004
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 200 (251,416)

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Multidimensional Risks, Risk Aversion, Risk Premia, Randomization in Incentive Schemes

27.

Switzerland and Euroland: European Monetary Union, Monetary Stability and Financial Stability

MPI Collective Goods Preprint No. 9/2007
Number of pages: 37 Posted: 30 Jul 2007
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 184 (270,884)

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European Monetary Union, European Central Bank, Monetary Stability, Banking Supervision, Financial Crisis Management

28.

'Total Assets' versus 'Risk Weighted Assets': Does it Matter for MREL Requirements?

MPI Collective Goods Preprint, No. 2016/12
Number of pages: 30 Posted: 03 Sep 2016
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 179 (277,386)
Citation 1

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29.

A Maximum Principle for Control Problems with Monotonicity Constraints

MPI Collective Goods Preprint, No. 2008/4
Number of pages: 39 Posted: 04 Mar 2008 Last Revised: 13 Aug 2009
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 165 (297,582)
Citation 20

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Maximum Principle, Optimal Control, Monotonicity Constraints, Incentive Problems with Hidden Characteristics

30.

Mechanism Design and Voting for Public-Good Provision

MPI Collective Goods Preprint, No. 2011/31
Number of pages: 47 Posted: 13 Jan 2012
Felix J. Bierbrauer and Martin F. Hellwig
Max Planck Institute for Research on Collective Goods and Max Planck Institute for Research on Collective Goods
Downloads 142 (336,776)
Citation 5

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Mechanism Design, Public-good provision, Large Economy, Voting Mechanisms

31.

A Generalization of the Atkinson-Stiglitz (1976) Theorem on the Undesirability of Nonuniform Excise Taxation

MPI Collective Goods Preprint, No. 2008/47
Number of pages: 11 Posted: 08 Dec 2008 Last Revised: 03 Feb 2009
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 129 (362,624)
Citation 6

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Optimal Taxation, Atkinson-Stiglitz Theorem

32.

Valuation Reports in the Context of Banking Resolution: What are the Challenges?

MPI Collective Goods Discussion Paper No. 2018/6
Number of pages: 31 Posted: 06 Jul 2018
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 127 (369,063)
Citation 7

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Bank resolution, valuation, no-investor-worse-off principle, Banco Popular Español

33.

Incentive Problems with Unidimensional Hidden Characteristics: A Uni…fied Approach

MPI Collective Goods Preprint No. 2006/26
Number of pages: 46 Posted: 05 Dec 2006 Last Revised: 11 Apr 2010
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 124 (373,493)
Citation 9

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Hidden Characteristics, Incentive Problems, Principal-Agent Models, General Type Distributions

34.

Safe Assets, Risky Assets, and Dynamic Inefficiency in Overlapping-Generations Economies

MPI Collective Goods Discussion Paper, No. 2021/10
Number of pages: 57 Posted: 30 Apr 2021 Last Revised: 12 May 2021
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 121 (380,455)

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Dynamic Inefficiency, overlapping-generations models, safe asset shortages, macro risk allocation, public debt

35.

Public-Good Provision, Mechanism Design and Voting

MPI Collective Goods Preprint, No. 2015/11
Number of pages: 29 Posted: 11 Aug 2015
Felix J. Bierbrauer and Martin F. Hellwig
Max Planck Institute for Research on Collective Goods and Max Planck Institute for Research on Collective Goods
Downloads 113 (399,707)

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Mechanism Design, Public-good provision, Voting Mechanisms

36.

Precautionary Recapitalisations: Time for a Review

MPI Collective Goods Preprint, No. 2017/14
Number of pages: 33 Posted: 14 Jul 2017
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 110 (407,626)
Citation 3

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37.

The Provision and Pricing of Excludable Public Goods: Ramsey-Boiteux Pricing Versus Bundling

MPI Collective Goods Preprint No. 2006/21
Number of pages: 49 Posted: 10 Oct 2006
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 91 (463,502)
Citation 1

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Mechanism Design, Excludable Public Goods, Ramsey-Boiteux Pricing, Renegotiation Proofness, Bundling

38.

Dynamic Inefficiency and Fiscal Interventions in an Economy with Land and Transaction Costs

MPI Collective Goods Discussion Paper, No. 2020/7
Number of pages: 39 Posted: 13 Mar 2020 Last Revised: 18 May 2021
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 90 (466,673)
Citation 6

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Dynamic inefficiency, fiscal policy, public debt, overlapping-generations models with land, transaction costs, pay-as-you-go retirement provision

39.

A Homeomorphism Theorem for the Universal Type Space with the Uniform Topology

MPI Collective Goods Preprint, No. 2016/17
Number of pages: 40 Posted: 18 Nov 2016 Last Revised: 22 Jul 2022
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 90 (466,673)
Citation 3

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incomplete information, universal type space, uniform weak topology, uniform strategic topology, homeomorphism theorem

40.

Public-Good Provision in a Large Economy

MPI Collective Goods Preprint, No. 2010/02
Number of pages: 51 Posted: 07 Jan 2010
Felix J. Bierbrauer and Martin F. Hellwig
Max Planck Institute for Research on Collective Goods and Max Planck Institute for Research on Collective Goods
Downloads 89 (469,918)
Citation 6

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Large Economy, Mechanism Design, Public-good provision

41.

Public-Good Provision in Large Economies

MPI Collective Goods Preprint, No. 2015/12
Number of pages: 49 Posted: 08 Oct 2015
Felix J. Bierbrauer and Martin F. Hellwig
Max Planck Institute for Research on Collective Goods and Max Planck Institute for Research on Collective Goods
Downloads 82 (493,968)
Citation 4

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Mechanism Design, Public-good provision, Large Economy, Voting Mechanisms, Robust Incentive Compatibility, Immunity against Robustly Blocking Coalitions, Monotonic Social Choice Functions

42.

Probability Measures on Product Spaces with Uniform Metrics

MPI Collective Goods Preprint, No. 2017/6
Number of pages: 29 Posted: 04 May 2017 Last Revised: 11 May 2023
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 77 (512,491)
Citation 2

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Product spaces with uniform metrics, weak convergence of non-Borel measures, σ-algebras generated by the open balls, quasi-separable measures, Prohorov metric

43.

Nonlinear Incentive Provision in Walrasian Markets: A Cournot Convergence Approach

Number of pages: 51 Posted: 05 Nov 2004
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 76 (516,303)
Citation 5

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Insurance, Moral Hazard, Incentive Contracting, Walrasian Markets, Rational-Expectations, Cournot Equilibrium

44.

Twelve Years after the Financial Crisis – Too-big-to-fail is still with us. Comments on the Financial Stability Board’s Consultation Report ‘Evaluation of the Effects of Too-big-to-fail Reforms’

MPI Collective Goods Discussion Paper, No. 2020/24
Number of pages: 15 Posted: 28 Oct 2020
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 75 (520,153)
Citation 1

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Financial Stability Board, too-big-to-fail, systemic risk, banking regulation, bank resolution

45.

Banks, Politics and European Monetary Union

MPI Collective Goods Discussion Paper, No. 2019/13
Number of pages: 15 Posted: 07 Nov 2019 Last Revised: 08 Nov 2019
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 75 (520,153)

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Monetary union, central banking, politics of banks, banking union, bank resolution, bail-in

46.

Utilitarian Mechanism Design for an Excludable Public Good

MPI Collective Goods Preprint, No. 2009/12
Number of pages: 46 Posted: 24 Apr 2009
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 67 (553,353)
Citation 5

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Utilitarian welfare maximization, Admission rules for excludable public goods, Randomization in optimal mechanisms

47.

Carving Out Legacy Assets: A Successful Tool for Bank Restructuring?

MPI Collective Goods Preprint, No. 2017/03
Number of pages: 33 Posted: 24 Mar 2017
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 65 (562,135)
Citation 2

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48.

Incomplete-Information Models of Large Economies with Anonymity: Existence and Uniqueness of Common Priors

MPI Collective Goods Preprint, No. 2011/8
Number of pages: 17 Posted: 20 May 2011
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 64 (566,632)
Citation 7

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Large Economy, Belief systems, consistency, common prior

49.

Incomplete-Information Games in Large Populations with Anonymity

Downloads 59 (589,619)
Citation 2

Incomplete-Information Games in Large Populations with Anonymity

MPI Collective Goods Discussion Paper, No. 2019/14
Number of pages: 51 Posted: 15 Nov 2019
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 31 (781,114)
Citation 2

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Incomplete-information games, large populations, belief functions, common priors, exchangeability, conditional independence, conditional exact law of large numbers

Incomplete-Information Games in Large Populations with Anonymity

MPI Collective Goods Discussion Paper, No. 2020/20
Number of pages: 59 Posted: 18 Aug 2020 Last Revised: 11 Mar 2021
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 28 (805,838)
Citation 1

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Incomplete-information games, large populations, belief functions, common priors, exchangeability, conditional independence, conditional exact law of large numbers.

50.

The Undesirability of Randomized Income Taxation Under Decreasing Risk Aversion

MPI Collective Goods Preprint No. 2005/27
Number of pages: 46 Posted: 03 Jan 2006
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 58 (594,549)
Citation 2

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Optimal Income Taxation, Randomized Incentive Schemes, Nonincreasing Risk Aversion

51.

Beliefs, Payoffs, Information: On the Robustness of the BDP Property in Models with Endogenous Beliefs

MPI Collective Goods Preprint, No. 2011/28
Number of pages: 44 Posted: 27 Mar 2012
Alia Gizatulina and Martin F. Hellwig
Max Planck Institute for Research on Collective Goods and Max Planck Institute for Research on Collective Goods
Downloads 49 (641,879)
Citation 2

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Mechanism Design, surplus extraction, BDP, correlated information, universal type space

52.

A Note on Deaton's Theorem on the Undesirability of Nonuniform Excise Taxation

MPI Collective Goods Preprint, No. 2008/45
Number of pages: 8 Posted: 03 Dec 2008
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 49 (641,879)
Citation 7

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Optimal Excise Taxes, Atkinson-Stiglitz Theorem, Deaton's Theorem

53.

The Genericity of the McAfee-Reny Condition for Full Surplus Extraction in Models with a Continuum of Types

MPI Collective Goods Preprint, No. 2015/08
Number of pages: 44 Posted: 31 Jul 2015
Alia Gizatulina and Martin F. Hellwig
Max Planck Institute for Research on Collective Goods and Max Planck Institute for Research on Collective Goods
Downloads 46 (659,015)
Citation 2

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Mechanism Design, surplus extraction, BDP, correlated information, strategic continuity

54.

Informational Smallness and the Scope for Limiting Information Rents

MPI Collective Goods Preprint, No. 2009/28
Number of pages: 37 Posted: 31 Aug 2009
Alia Gizatulina and Martin F. Hellwig
Max Planck Institute for Research on Collective Goods and Max Planck Institute for Research on Collective Goods
Downloads 45 (664,880)

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BDP, correlated information, informational smallness, Mechanism Design, surplus extraction

55.

Finanzstabilität, Transparenz und Verantwortlichkeit: Stellungnahme für das Bundesverfassungsgericht (Financial Stability, Transparency, and Accountability: Statement for the Constitutional Court of the Federal Republic of Germany)

MPI Collective Goods Preprint, No. 2017/19
Number of pages: 28 Posted: 06 Oct 2017 Last Revised: 08 Jan 2018
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 44 (670,724)

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56.

The Generic Possibility of Full Surplus Extraction in Models with Large Type Spaces

MPI Collective Goods Preprint, No. 2017/2
Number of pages: 48 Posted: 22 Feb 2017 Last Revised: 26 May 2017
Alia Gizatulina and Martin F. Hellwig
Max Planck Institute for Research on Collective Goods and Max Planck Institute for Research on Collective Goods
Downloads 42 (683,189)
Citation 1

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mechanism design, surplus extraction,abstract type spaces, universal type space, genericity, correlated values, correlated information, strategic continuity

57.

From Posteriors to Priors Via Cycles: An Addendum

MPI Collective Goods Preprint No. 2011/7
Number of pages: 10 Posted: 20 May 2011
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 33 (744,128)
Citation 4

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Belief systems, consistency, common priors, cycle equations

58.

Social Choice in Large Populations with Single-Peaked Preferences

MPI Collective Goods Discussion Paper, No. 2021/18
Number of pages: 67 Posted: 14 Oct 2021
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 30 (766,787)

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Social choice, large populations, strategy proofness, group strategy proofness, single-peaked preferences

59.

Public-Good Provision with Macro Uncertainty about Preferences: Efficiency, Budget Balance, and Robustness

MPI Collective Goods Discussion Paper, No. 2021/19
Number of pages: 28 Posted: 14 Oct 2021
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 29 (774,511)

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Efficient public-good provision, incomplete information, conditionally independent private values, macro uncertainty, budget balance, weakly robust incentive compatibility

60.

Wage Growth, Productivity Growth, and the Evolution of Employment

Number of pages: 45 Posted: 04 Sep 2001
Martin F. Hellwig and Andreas Irmen
Max Planck Institute for Research on Collective Goods and University of Luxembourg - Ceter for Research in Economic Analysis (CREA)
Downloads 19 (859,363)
Citation 1
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Endogenous technical change, perfect competition, productivity growth, wages, employment

61.

Overlapping-Generations Economies under Uncertainty: Dynamic Inefficiency/Efficiency with Multiple Assets and no Labour

MPI Collective Goods Discussion Paper, No. 2023/4
Number of pages: 34 Posted: 15 May 2023
Martin F. Hellwig
Max Planck Institute for Research on Collective Goods
Downloads 15 (897,179)

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Dynamic Inefficiency, overlapping-generations models, First Welfare Theorem, certainty-equivalents criterion