Beliefs, payoffs, information: On the robustness of the BDP property in models with endogenous beliefs

Item Type Journal paper
Abstract Neeman (2004) and Heifetz and Neeman (2006) have shown that, in auctions with incomplete information about payoffs, full surplus extraction is only possible if agents' beliefs about other agents are fully informative about their own payoff parameters. They argue that the set of incomplete-information models with common priors that satisfy this so-called BDP property ("beliefs determine preferences") is negligible. In contrast, we show that, in models with finite-dimensional abstract type spaces, the set of belief functions with this property is topologically generic in the set of all belief functions. Our result implies genericity of (non-common or common) priors with the BDP property.
Authors Gizatulina, Alia & Hellwig, Martin
Journal or Publication Title Journal of Mathematical Economics
Language English
Keywords Abstract type spaces; Mechanism design; Correlated information; Belief functions; BDP property
Subjects economics
HSG Classification contribution to scientific community
Refereed No
Date 1 March 2014
Publisher Elsevier
Place of Publication Amsterdam
Volume 51
Number -
Page Range 136-153
Number of Pages 18
ISSN 0304-4068
ISSN-Digital 1873-1538
Publisher DOI https://doi.org/10.1016/j.jmateco.2013.10.010
Depositing User Prof. PhD Alia Gizatulina
Date Deposited 20 Aug 2015 10:56
Last Modified 20 Jul 2022 17:25
URI: https://www.alexandria.unisg.ch/publications/243434

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Gizatulina, Alia & Hellwig, Martin (2014) Beliefs, payoffs, information: On the robustness of the BDP property in models with endogenous beliefs. Journal of Mathematical Economics, 51 (-). 136-153. ISSN 0304-4068

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https://www.alexandria.unisg.ch/id/eprint/243434
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