Existence of Equilibrium in Common Agency Games with Adverse Selection

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Existence of Equilibrium in Common Agency Games with Adverse Selection

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Carmona, Guilherme
Fajardo, Jose

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Abstract

We establish the existence of sequential equilibria in general menu games, known to be su±cient to analyze common agency problems. In particular, we show that our result solves some unpleasant features of early approaches.

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Paper provided by Universidade Nova de Lisboa, Faculdade de Economia in its series FEUNL Working Paper Series with number wp490.

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Length: 28 pages
Date of creation: 2006
Date of revision:
Handle: RePEc:unl:unlfep:wp490

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Article
- 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. [Downloadable!] (restricted)
Paper
- Guilherme Carmona & José Fajardo, 2006. "Existence of Equilibrium in Common Agency Games with Adverse Selection," IBMEC RJ Economics Discussion Papers 2006-05, Economics Research Group, IBMEC Business School - Rio de Janeiro. [Downloadable!]

This paper has been announced in the following NEP Reports:

NEP-ALL-2006-08-12 (All new papers)
NEP-GTH-2006-08-12 (Game Theory)
NEP-MIC-2006-08-12 (Microeconomics)

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.:

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)
Simon, Leo K & Zame, William R, 1990. "Discontinuous Games and Endogenous Sharing Rules," Econometrica, Econometric Society, vol. 58(4), pages 861-72, July. [Downloadable!] (restricted)
Other versions:
- Leo K. Simon and William R. Zame., 1987. "Discontinuous Games and Endogenous Sharing Rules," Economics Working Papers 8756, University of California at Berkeley.
Maskin, Eric & Tirole, Jean, 1990. "The Principal-Agent Relationship with an Informed Principal: The Case of Private Values," Econometrica, Econometric Society, vol. 58(2), pages 379-409, March. [Downloadable!] (restricted)
Kreps, David M & Wilson, Robert, 1982. "Sequential Equilibria," Econometrica, Econometric Society, vol. 50(4), pages 863-94, July. [Downloadable!] (restricted)
Other versions:
- David M Kreps & Robert Wilson, 2003. "Sequential Equilibrium," Levine's Working Paper Archive 618897000000000813, David K. Levine. [Downloadable!]
Peters, Michael, 2001. "Common Agency and the Revelation Principle," Econometrica, Econometric Society, vol. 69(5), pages 1349-72, September.
Other versions:
- Michael Peters, 1999. "Common Agency and the Revelation Principle," Working Papers peters-99-01, University of Toronto, Department of Economics. [Downloadable!]
Page, Frank Jr. & Monteiro, Paulo K., 2003. "Three principles of competitive nonlinear pricing," Journal of Mathematical Economics, Elsevier, vol. 39(1-2), pages 63-109, February. [Downloadable!] (restricted)
Other versions:
- Page, F.H.Jr. & Monteiro, P.K., 2001. "Three Principles of Competitive Nonlinear Pricing," The Warwick Economics Research Paper Series (TWERPS) 592, University of Warwick, Department of Economics. [Downloadable!]
- Frank H. Page & Paulo Klinger Monteiro, 2002. "Three principles of competitive nonlinear pricing," Game Theory and Information 0204001, EconWPA. [Downloadable!]
- Page Junior, Frank H. & Monteiro, Paulo Klinger, 2002. "Three Principles of Competitive Nonlinear Pricing," Economics Working Papers (Ensaios Economicos da EPGE) 442, Graduate School of Economics, Getulio Vargas Foundation (Brazil). [Downloadable!]

Full references

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.)

Frank H. Page, Jr. & Paulo K. Monteiro, 2007. "Endogenous Mechanisms and Nash Equilibrium in Competitive Contracting," Caepr Working Papers 2007-025, Center for Applied Economics and Policy Research, Economics Department, Indiana University Bloomington. [Downloadable!]

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