作者：Kasy, Maximilian
作者单位：Harvard University
摘要：This article discusses identification in continuous triangular systems without restrictions on heterogeneity or functional form. We do not assume separability of structural functions, restrictions on the dimensionality of unobservables, or monotonicity in unobservables. We do maintain monotonicity of the first stage relationship in the instrument and consider the case of real-valued treatment. Under these conditions alone, and given rich enough support of the data, potential outcome distributi...
作者：Mylovanov, Tymofiy; Troeger, Thomas
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; University of Mannheim
摘要：We provide a solution to the informed-principal problem in the independent private values setting with monetary transfers. The principal's private information creates signaling considerations that may distort the implemented allocation. We show that there is no distortion: all principal types implement an allocation that is optimal for the principal ex ante, before he/she learns his/her type. As an application, we consider settings with linear utility. For bilateral exchange in which the princ...
