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The Principal-Agent Matching Market

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Author Info
Kaniska Dam
David Pérez-Castrillo ()

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Abstract

We propose a model based on competitive markets in order to analyze an economy with several principals and agents. We model the principal-agent economy as a two-sided matching game and characterize the set of stable outcomes of this principal-agent matching market. A simple mechanism to implement the set of stable outcomes is proposed. Finally, we put forward examples of principal-agent economies where the results fit into.

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Publisher Info
Paper provided by Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC) in its series UFAE and IAE Working Papers with number 503.01.

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Length: 28
Date of creation: 27 Nov 2001
Date of revision:
Handle: RePEc:aub:autbar:503.01

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Related research
Keywords: Principal-agent; Moral hazard; Matching; Implementation;

Other versions of this item:

Find related papers by JEL classification:
C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information
D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy-Making and Implementation

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References listed on IDEAS
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.:
  1. Ghatak, Maitreesh & Pandey, Priyanka, 2000. "Contract choice in agriculture with joint moral hazard in effort and risk," Journal of Development Economics, Elsevier, vol. 63(2), pages 303-326, December. [Downloadable!] (restricted)
  2. Perotti, Roberto, 1996. "Redistribution and Non-consumption Smoothing in an Open Economy," Review of Economic Studies, Blackwell Publishing, vol. 63(3), pages 411-33, July. [Downloadable!] (restricted)
  3. Tayfun Sönmez & Tarik Kara, 1997. "Implementation of college admission rules (*)," Economic Theory, Springer, vol. 9(2), pages 197-218.
  4. Besanko, David & Thakor, Anjan V, 1987. "Collateral and Rationing: Sorting Equilibria in Monopolistic and Competitive Credit Markets," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 28(3), pages 671-89, October. [Downloadable!] (restricted)
  5. de Mesa, David & Webb, David C., 1992. "Efficient credit rationing," European Economic Review, Elsevier, vol. 36(6), pages 1277-1290, August. [Downloadable!] (restricted)
  6. Ackerberg, D.A. & Botticini, M., 1999. "Endogenous Matching and the Empirical Determinants of Contract Form," Papers 96, Boston University - Department of Economics.
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  7. Serfes, Konstantinos, 2005. "Risk sharing vs. incentives: Contract design under two-sided heterogeneity," Economics Letters, Elsevier, vol. 88(3), pages 343-349, September. [Downloadable!] (restricted)
  8. Dilip Mookherjee & Debraj Ray, 2000. "Contractual Structure and Wealth Accumulation," Boston University - Institute for Economic Development 107, Boston University, Institute for Economic Development.
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  9. Alcalde, Jose & Perez-Castrillo, David & Romero-Medina, Antonio, 1998. "Hiring Procedures to Implement Stable Allocations," Journal of Economic Theory, Elsevier, vol. 82(2), pages 469-480, October. [Downloadable!] (restricted)
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  10. Basu, Kaushik, 1992. "Limited liability and the existence of share tenancy," Journal of Development Economics, Elsevier, vol. 38(1), pages 203-220, January. [Downloadable!] (restricted)
  11. Alcalde, Jose & Romero-Medina, Antonio, 2000. "Simple Mechanisms to Implement the Core of College Admissions Problems," Games and Economic Behavior, Elsevier, vol. 31(2), pages 294-302, May. [Downloadable!] (restricted)
  12. Perez-Castrillo, David & Sotomayor, Marilda, 2002. "A Simple Selling and Buying Procedure," Journal of Economic Theory, Elsevier, vol. 103(2), pages 461-474, April. [Downloadable!] (restricted)
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  13. Fátima Barros & Inés Macho-Stadler, 1998. "Competition for Managers and Product Market Efficiency," Journal of Economics & Management Strategy, Blackwell Publishing, vol. 7(1), pages 89-103, 03. [Downloadable!] (restricted)
  14. V. Bhaskar, 2002. "Relative Performance Evaluation and Limited Liability," Economics Discussion Papers 550, University of Essex, Department of Economics. [Downloadable!]
  15. Kamecke, U, 1989. "Non-cooperative Matching Games," International Journal of Game Theory, Springer, vol. 18(4), pages 423-31.
  16. Legros, Patrick & Newman, Andrew, 2002. "Assortative Matching in a Non-transferable World," CEPR Discussion Papers 3469, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  17. repec:fth:coluec:756 is not listed on IDEAS
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Cited by:
(explanations, 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.)

  1. Michael Kosfeld & Ferdinand von Siemens, 2007. "Competition, Cooperation, and Corporate Culture," IZA Discussion Papers 2927, Institute for the Study of Labor (IZA). [Downloadable!]
    Other versions:
  2. Timothy Besley & Maitreesh Ghatak, 2005. "Competition and Incentives with Motivated Agents," American Economic Review, American Economic Association, vol. 95(3), pages 616-636, June. [Downloadable!]
    Other versions:
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