Document Type
Discussion Paper
Publication Date
2-26-2025
CFDP Number
2428
CFDP Pages
70
Journal of Economic Literature (JEL) Code(s)
C61, D82, D83
Abstract
We characterize the extreme points of multidimensional monotone functions from [0,1]^n to [0,1], as well as the extreme points of the set of one-dimensional marginals of these functions. These characterizations lead to new results in various mechanism design and information design problems, including public good provision with interdependent values; interim efficient bilateral trade mechanisms; asymmetric reduced form auctions; and optimal private private information structure. As another application, we also present a mechanism anti-equivalence theorem for two-agent, two-alternative social choice problems: A mechanism is payoff-equivalent to a deterministic DIC mechanism if and only if they are ex-post equivalent.
Recommended Citation
Yang, Frank and Yang, Kai Hao, "Multidimensional Monotonicity and Economic Applications" (2025). Cowles Foundation Discussion Papers. 2840.
https://elischolar.library.yale.edu/cowles-discussion-paper-series/2840
