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Characterizes generalized Pareto distributions using affine virtual values, indicating implications for mechanisms and design.
• Characterizes Generalized Pareto distributions via affine Virtual Values. • Shows that tail index fully governs optimal cutoffs and comparative statics. • Links monopoly, mechanism design and search through a single tail parameter. • Uses Extreme Value Theory to show asymptotic linearity of Virtual Values.
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Paolo Morganti (2026) studied this question.
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