The Revelation and Delegation Principles in Common Agency Games
AbstractIn the context of common agency adverse-selection games weillustrate that the revelation principle cannot be applied to studyequilibria of the multi-principal games. We then demonstrate thatan extension of the taxation principle â what we term theâdelegation principleâ â can be used to characterize the set of allcommon agency equilibria.
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Bibliographic InfoArticle provided by Econometric Society in its journal Econometrica.
Volume (Year): 70 (2002)
Issue (Month): 4 (July)
Other versions of this item:
- David Martimort & Lars Stole, 2001. "The Revelation and Delegation Principles in Common Agency Games," CESifo Working Paper Series 575, CESifo Group Munich.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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