Existence of Equilibrium in Common Agency Games with Adverse Selection
AbstractWe establish the existence of sequential equilibria in general menu games, known to be sufficient to analyze common agency problems. In particular, we show that our result solves some unpleasant features of early approaches.
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Bibliographic InfoPaper provided by Economics Research Group, IBMEC Business School - Rio de Janeiro in its series IBMEC RJ Economics Discussion Papers with number 2006-05.
Date of creation: 24 Oct 2006
Date of revision:
Common Agency; Menu Games; Sequential Equilibrium;
Other versions of this item:
- Carmona, Guilherme & Fajardo, José, 2009. "Existence of equilibrium in common agency games with adverse selection," Games and Economic Behavior, Elsevier, vol. 66(2), pages 749-760, July.
- Carmona, Guilherme & Fajardo, Jose, 2006. "Existence of Equilibrium in Common Agency Games with Adverse Selection," FEUNL Working Paper Series wp490, Universidade Nova de Lisboa, Faculdade de Economia.
- D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- D89 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Other
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-10-28 (All new papers)
- NEP-GTH-2006-10-28 (Game Theory)
- NEP-MIC-2006-10-28 (Microeconomics)
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