Implementation of multi-agent incentive contracts with the principal's renegotiation offer
AbstractThe purpose of this paper is to explore a mechanism for supporting desired equilibrium actions in a one-principal, multi-agent model when the principal makes a renegotiation offer. We show that there exists a mechanism in which the principal's most preferred mixed strategy is always supported.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Springer in its journal Review of Economic Design.
Volume (Year): 4 (1999)
Issue (Month): 2 ()
Note: Received: 30 May 1997 / Accepted: 10 October 1998
Contact details of provider:
Web page: http://link.springer.de/link/service/journals/10058/index.htm
Find related papers by JEL classification:
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Hiroshi Osano & Mami Kobayashi, 2003.
"Double Moral Hazard and Renegotiation,"
KIER Working Papers
563, Kyoto University, Institute of Economic Research.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn) or (Christopher F Baum).
If references are entirely missing, you can add them using this form.