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Strongly Robust Equilibrium and Competing-Mechanism Games

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Han, Seungjin

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Abstract

This paper studies the competing mechanism games of complete information with multiple principals and multiple agents. This paper shows that any strongly robust pure-strategy equilibrium relative to single contract offers (that is, an equilibrium that persists no matter what continuation equilibrium agents play upon any principal's deviation to any single contract) persists no matter what continuation equilibrium agents play upon any principal's deviation to any complex mechanism, so it is strongly robust relative to any complex mechanisms. It is shown that in fact, any pure-strategy equilibrium of the single contract offer game in Prat and Rustichini (2003) is strongly robust to any complex mechanisms.

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File URL: http://socserv.mcmaster.ca/han/research/single-offer-JET-Feb-12-07.pdf
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Paper provided by Microeconomics.ca Website in its series Micro Theory Working Papers with number han-06-01-19-06-37-40.

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Length: 22 pages
Date of creation: 19 Jan 2006
Date of revision: 23 Feb 2007
Handle: RePEc:ubc:pmicro:han-06-01-19-06-37-40

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  1. Ilya Segal, 1999. "Contracting With Externalities," The Quarterly Journal of Economics, MIT Press, vol. 114(2), pages 337-388, May. [Downloadable!] (restricted)
  2. McAfee, R Preston, 1993. "Mechanism Design by Competing Sellers," Econometrica, Econometric Society, vol. 61(6), pages 1281-1312, November. [Downloadable!] (restricted)
  3. Harold L. Cole & George J. Mailath & Andrew Postlewaite, . ""Efficient Non-Contractible Investments''," CARESS Working Papres 98-13, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
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  4. Klemperer, Paul D & Meyer, Margaret A, 1989. "Supply Function Equilibria in Oligopoly under Uncertainty," Econometrica, Econometric Society, vol. 57(6), pages 1243-77, November. [Downloadable!] (restricted)
  5. Fershtman, Chaim & Kalai, Ehud, 1997. "Unobserved Delegation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 38(4), pages 763-74, November.
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  6. Han, Seungjin, 2004. "Menu Theorems for Bilateral Contracting," Micro Theory Working Papers han-04-01-29-10-05-13, Microeconomics.ca Website, revised 29 Jan 2004. [Downloadable!]
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  7. Bruno Biais & David Martimort & Jean-Charles Rochet, 2000. "Competing Mechanisms in a Common Value Environment," Econometrica, Econometric Society, vol. 68(4), pages 799-838, July.
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  8. Christine A. Parlour & Uday Rajan, 2001. "Competition in Loan Contracts," American Economic Review, American Economic Association, vol. 91(5), pages 1311-1328, December. [Downloadable!] (restricted)
  9. Hein Roelfsema, 2004. "Legislative Bargaining and Lobbying in the European Union," Working Papers 04-16, Utrecht School of Economics. [Downloadable!]
  10. Epstein, Larry G. & Peters, Michael, 1999. "A Revelation Principle for Competing Mechanisms," Journal of Economic Theory, Elsevier, vol. 88(1), pages 119-160, September. [Downloadable!] (restricted)
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  11. Andrea Prat & Aldo Rustichini, 2003. "Games Played Through Agents," Econometrica, Econometric Society, vol. 71(4), pages 989-1026, 07. [Downloadable!] (restricted)
  12. Eddie Dekel & Matthew O. Jackson & Asher Wolinsky, 2004. "Vote Buying," Discussion Papers 1386, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
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    • Eddie Dekel & Matthew O. Jackson & Asher Wolinsky, 2005. "Vote Buying," Others 0503006, EconWPA. [Downloadable!]
    • Jackson, Matthew O. & Dekel, Eddie & Wolinsky, Asher, 2005. "Vote buying," Working Papers 1215, California Institute of Technology, Division of the Humanities and Social Sciences. [Downloadable!]
  13. Peters, Michael, 2001. "Common Agency and the Revelation Principle," Econometrica, Econometric Society, vol. 69(5), pages 1349-72, September.
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  14. David Martimort & Lars Stole, 2002. "The Revelation and Delegation Principles in Common Agency Games," Econometrica, Econometric Society, vol. 70(4), pages 1659-1673, July. [Downloadable!] (restricted)
  15. Robert Shimer, 2005. "The Assignment of Workers to Jobs in an Economy with Coordination Frictions," Journal of Political Economy, University of Chicago Press, vol. 113(5), pages 996-1025, October.
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  16. Masahiro Endoh, 2005. "Cross-Border Political Donations and Pareto-Efficient Tariffs," Working Papers 915, Economic Growth Center, Yale University. [Downloadable!]
  17. Dixit, Avinash & Grossman, Gene M & Helpman, Elhanan, 1997. "Common Agency and Coordination: General Theory and Application to Government Policy Making," Journal of Political Economy, University of Chicago Press, vol. 105(4), pages 752-69, August.
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