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Moral hazard and private monitoring

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Author Info

  • Bhaskar, V.

    (Tilburg University)

  • Damme, E.E.C. van

    (Tilburg University)

Abstract

1This paper incorporates earlier work by Bhaskar [4] and unpublished notes by van Damme. We are grateful to Tilman Börgers, Dilip Mookherjee, Debraj Ray, an anonymous referee, an associate editor, and numerous seminar audiences for useful comments. The first author thanks the CentER for Economic Research (Tilburg) for its hospitality while some of this research was carried out.

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Bibliographic Info

Paper provided by Tilburg University in its series Open Access publications from Tilburg University with number urn:nbn:nl:ui:12-88790.

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Date of creation: 2002
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Publication status: Published in Journal of Economic Theory (2002) v.102, p.16-39
Handle: RePEc:ner:tilbur:urn:nbn:nl:ui:12-88790

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Web page: http://www.tilburguniversity.edu/

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  1. Drew Fudenberg & David K. Levine & Eric Maskin, 1994. "The Folk Theorem with Imperfect Public Information," Levine's Working Paper Archive 2058, David K. Levine.
  2. Damme, E.E.C. van & Hurkens, J.P.M., 1997. "Games with imperfectly observable commitment," Open Access publications from Tilburg University urn:nbn:nl:ui:12-74216, Tilburg University.
  3. Klein, Benjamin & Leffler, Keith B, 1981. "The Role of Market Forces in Assuring Contractual Performance," Journal of Political Economy, University of Chicago Press, vol. 89(4), pages 615-41, August.
  4. Gueth, Werner & Kirchsteiger, Georg & Ritzberger, Klaus, 1996. "Imperfectly Observable Commitments in n-Player Games," Economics Series 35, Institute for Advanced Studies.
  5. George J Mailath & Stephen Morris, 2001. "Repeated Games with Almost-Public Monitoring," NajEcon Working Paper Reviews 625018000000000257, www.najecon.org.
  6. Morris, Stephen & Rob, Rafael & Shin, Hyun Song, 1995. "Dominance and Belief Potential," Econometrica, Econometric Society, vol. 63(1), pages 145-57, January.
  7. Benoit, Jean-Pierre & Krishna, Vijay, 1985. "Finitely Repeated Games," Econometrica, Econometric Society, vol. 53(4), pages 905-22, July.
  8. Bhaskar, V., 1994. "Informational Constraints and the Overlapping Generations Model : Folk and Anti-Folk Theorems," Discussion Paper 1994-85, Tilburg University, Center for Economic Research.
  9. George J. Mailath & Stephen Morris, . ""Repeated Games with Imperfect Private Monitoring: Notes on a Coordination Perspective''," CARESS Working Papres 98-07, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
  10. Myerson, Roger B, 1986. "Multistage Games with Communication," Econometrica, Econometric Society, vol. 54(2), pages 323-58, March.
  11. Harris, Christopher & Reny, Philip & Robson, Arthur, 1995. "The Existence of Subgame-Perfect Equilibrium in Continuous Games with Almost Perfect Information: A Case for Public Randomization," Econometrica, Econometric Society, vol. 63(3), pages 507-44, May.
  12. Carlsson, Hans & van Damme, Eric, 1993. "Global Games and Equilibrium Selection," Econometrica, Econometric Society, vol. 61(5), pages 989-1018, September.
  13. Damme, E.E.C. van & Hurkens, J.P.M., 1994. "Games with imperfectly observable commitment," Discussion Paper 1994-64, Tilburg University, Center for Economic Research.
  14. Kyle Bagwell, 1992. "Commitment and Observability in Games," Discussion Papers 1014, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  15. Kandori, Michihiro, 1992. "The Use of Information in Repeated Games with Imperfect Monitoring," Review of Economic Studies, Wiley Blackwell, vol. 59(3), pages 581-93, July.
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  17. Compte, Olivier, 2002. "On Failing to Cooperate When Monitoring Is Private," Journal of Economic Theory, Elsevier, vol. 102(1), pages 151-188, January.
  18. Dilip Abreu & David Pearce & Ennio Stacchetti, 2010. "Towards a Theory of Discounted Repeated Games with Imperfect Monitoring," Levine's Working Paper Archive 199, David K. Levine.
  19. Michihiro Kandori & Hitoshi Matsushima, 1998. "Private Observation, Communication and Collusion," Econometrica, Econometric Society, vol. 66(3), pages 627-652, May.
  20. Mailath,G.J. & Samuelson,L., 1998. "Your reputation is who you're not, not who you'd like to be," Working papers 18, Wisconsin Madison - Social Systems.
  21. Matsushima, Hitoshi, 1991. "On the theory of repeated games with private information : Part II: revelation through communication," Economics Letters, Elsevier, vol. 35(3), pages 257-261, March.
  22. Olivier Compte, 1998. "Communication in Repeated Games with Imperfect Private Monitoring," Econometrica, Econometric Society, vol. 66(3), pages 597-626, May.
  23. Shapiro, Carl & Stiglitz, Joseph E, 1984. "Equilibrium Unemployment as a Worker Discipline Device," American Economic Review, American Economic Association, vol. 74(3), pages 433-44, June.
  24. Ellison, Glenn, 1994. "Cooperation in the Prisoner's Dilemma with Anonymous Random Matching," Review of Economic Studies, Wiley Blackwell, vol. 61(3), pages 567-88, July.
  25. Michihiro Kandori & Hitoshi Matsushima, 1997. "Private observation and Communication and Collusion," Levine's Working Paper Archive 1256, David K. Levine.
  26. Sekiguchi, Tadashi, 1997. "Efficiency in Repeated Prisoner's Dilemma with Private Monitoring," Journal of Economic Theory, Elsevier, vol. 76(2), pages 345-361, October.
  27. Rubinstein, Ariel, 1989. "The Electronic Mail Game: Strategic Behavior under "Almost Common Knowledge."," American Economic Review, American Economic Association, vol. 79(3), pages 385-91, June.
  28. Radner, Roy & Myerson, Roger & Maskin, Eric, 1986. "An Example of a Repeated Partnership Game with Discounting and with Uniformly Inefficient Equilibria," Review of Economic Studies, Wiley Blackwell, vol. 53(1), pages 59-69, January.
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