This paper describes situations where commitment via delegation is beneficial, even when the delegation is unobservable and the players have the option to play the game themselves. The potential for such benefits depends on the type of delegation, incentive versus instructive, the possibility of repetition, and the probability of observability. Copyright 1997 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.
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Article provided by Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association in its journal International Economic Review.
Volume (Year): 38 (1997) Issue (Month): 4 (November) Pages: 763-74 Download reference. The following formats are available: HTML
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Paper
Fershtman, C. & Kalai, E., 1993.
"Unobserved Delegation,"
Papers
10-93, Tel Aviv - the Sackler Institute of Economic Studies.
Chaim Fershtman & Ehud Kalai, 1993.
"Unobserved Delegation,"
Discussion Papers
1043, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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