Download This PaperRent Extraction and Uncertainty
17 Pages Posted: 13 Jan 2015
Date Written: January 12, 2015
Abstract
This note revisits the problem of rent extraction in situations where agents are uncertain about the private information of others, represented by multiple probabilistic assessments. A generalization of convex independence (Crémer and McLean, 1985 and 1988) is necessary and sufficient for full rent extraction. Full rent extraction is not generically possible.
Keywords: Rent extraction, surplus extraction, multiple priors, maxmin, convex, independence
JEL Classification: D8
Suggested Citation: Suggested Citation
Renou, Ludovic, Rent Extraction and Uncertainty (January 12, 2015). Available at SSRN: https://ssrn.com/abstract=2548499 or http://dx.doi.org/10.2139/ssrn.2548499
Do you have negative results from your research you’d like to share?
Feedback
Feedback to SSRN
If you need immediate assistance, call 877-SSRNHelp (877 777 6435) in the United States, or +1 212 448 2500 outside of the United States, 8:30AM to 6:00PM U.S. Eastern, Monday - Friday.