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The Quantitative View of Myerson Regularity

Author

Listed:
  • Nikolaus Schweizer
  • Nora Szech
Abstract
In mechanism design, Myerson regularity is often too weak for a quantitative analysis of performance. For instance, ratios between revenue and welfare, or sales probabilities may vanish at the boundary of Myerson regularity. This paper therefore explores the quantitative version of Myerson regularity, which we call λ-regularity. It measures how Myerson regular a distribution is. In doing so, we unify separate literatures in economics, computer science, applied mathematics and statistics. The concept has appeared before, e.g., under the names of ρ-concavity and α-strong-regularity. We provide many new results for quantitative auction and mechanism design.

Suggested Citation

  • Nikolaus Schweizer & Nora Szech, 2016. "The Quantitative View of Myerson Regularity," CESifo Working Paper Series 5712, CESifo.
    • Handle: RePEc:ces:ceswps:_5712
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    References listed on IDEAS

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    Cited by:

    1. Amine Allouah & Omar Besbes, 2020. "Prior-Independent Optimal Auctions," Management Science, INFORMS, vol. 66(10), pages 4417-4432, October.

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    More about this item

    Keywords

    &lambda; -regularity; Myerson regularity; monotone hazard rate; auctions; mechanism design; approximation;
    All these keywords.

    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • D47 - Microeconomics - - Market Structure, Pricing, and Design - - - Market Design
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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