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On multiple-principal multiple-agent models of moral hazard

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Author Info
Gwenaël Piaser () (Luxembourg School of Finance, University of Luxembourg)
Abstract

In this note we show that the equilibrium characterized by Biais, Martimort and Rochet (Econometrica, 2000) could have been characterized by direct mechanisms even if the Revelation Principle does not apply in their setting. The use of more sophisticated mechanisms, such as menus, was not necessary.

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Publisher Info
Paper provided by CREFI-LSF, University of Luxembourg in its series Working Papers of CREFI-LSF (Centre of Research in Finance - Luxembourg School of Finance) with number 07-10.

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Date of creation: 2007
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Handle: RePEc:crf:wpaper:07-10

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Related research
Keywords: Common Agency; Revelation Principle; Direct Mechanisms.;

Find related papers by JEL classification:
D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information

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This page was last updated on 2009-12-14.

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