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Common Agency Games with Separable Preferences

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Author Info

  • Attar Andrea

    (IDEI, University of Toulouse
    Concordia University)

  • Gwenäel Piaser

    ()
    (Department of Economics, University Of Venice Ca’ Foscari)

  • Nicolas Porteiro

    (University Pablo de Olavide)

Abstract

This paper examines the role of the direct mechanisms in common agency games. We show how the introduction of a separability condition on the preferences of the agent is sufficient for a version of the Revelation Principle to hold in finite generic games. The result goes through without imposing any restriction on the principals’ payoffs. Therefore, it is still possible to restrict attention to direct mechanisms without any loss of generality even when competition over contracts is considered.

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File URL: http://www.unive.it/media/allegato/DIP/Economia/Working_papers/Working_papers_2006/WP_DSE_Piaser_28_06.pdf
File Function: First version, 2006
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Bibliographic Info

Paper provided by Department of Economics, University of Venice "Ca' Foscari" in its series Working Papers with number 2006_28.

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Length: 20 pages
Date of creation: 2006
Date of revision:
Handle: RePEc:ven:wpaper:2006_28

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Related research

Keywords: Revelation Principle; Common Agency; Separable Preferences;

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References

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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.:
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  1. ATTAR, Andrea & CAMPIONI, Eloisa & PIASER, Gwenaël, 2005. "Multiple lending and constrained efficiency in the credit market," CORE Discussion Papers 2005031, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. Grossman, G.M. & Helpman, E., 1992. "Protection for Sale," Papers 162, Princeton, Woodrow Wilson School - Public and International Affairs.
  3. 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.
  4. Bernheim, B Douglas & Whinston, Michael D, 1986. "Common Agency," Econometrica, Econometric Society, vol. 54(4), pages 923-42, July.
  5. Attar, Andrea & Piaser, Gwenael & Porteiro, Nicolas, 2007. "Negotiation and take-it or leave-it in common agency with non-contractible actions," Journal of Economic Theory, Elsevier, vol. 135(1), pages 590-593, July.
  6. Roger B. Myerson, 1977. "Incentive Compatability and the Bargaining Problem," Discussion Papers 284, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  7. repec:ebl:ecbull:v:4:y:2005:i:11:p:1-6 is not listed on IDEAS
  8. Laussel, Didier & Le Breton, Michel, 1998. "Efficient Private Production of Public Goods under Common Agency," Games and Economic Behavior, Elsevier, vol. 25(2), pages 194-218, November.
  9. Ilya Segal & Michael D. Whinston, 2003. "Robust Predictions for Bilateral Contracting with Externalities," Econometrica, Econometric Society, vol. 71(3), pages 757-791, 05.
  10. Larry Epstein & Michael Peters, 1996. "A Revelation Principle For Competing Mechanisms," Working Papers peters-96-02, University of Toronto, Department of Economics.
  11. David Martimort & Lars Stole, 2001. "The Revelation and Delegation Principles in Common Agency Games," CESifo Working Paper Series 575, CESifo Group Munich.
  12. Rama, Martin & Tabellim, Guido, 1998. "Lobbying by capital and labor over trade and labor market policies," European Economic Review, Elsevier, vol. 42(7), pages 1295-1316, July.
  13. Versaevel, Bruno & de Villemeur, Étienne, 2003. "Conflict and Cooperation on R&D Markets," IDEI Working Papers 191, Institut d'Économie Industrielle (IDEI), Toulouse.
  14. Alberto Bisin & Danilo Guaitoli, 2004. "Moral Hazard and Nonexclusive Contracts," RAND Journal of Economics, The RAND Corporation, vol. 35(2), pages 306-328, Summer.
  15. 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.
  16. Deaton,Angus & Muellbauer,John, 1980. "Economics and Consumer Behavior," Cambridge Books, Cambridge University Press, number 9780521296762, October.
  17. Aidt, Toke S., 1998. "Political internalization of economic externalities and environmental policy," Journal of Public Economics, Elsevier, vol. 69(1), pages 1-16, July.
  18. Andrea Prat & Aldo Rustichini, 2003. "Games Played Through Agents," Econometrica, Econometric Society, vol. 71(4), pages 989-1026, 07.
  19. Le Breton, Michel & Salanie, Francois, 2003. "Lobbying under political uncertainty," Journal of Public Economics, Elsevier, vol. 87(12), pages 2589-2610, December.
  20. Strausz, Roland, 2003. "Deterministic mechanisms and the revelation principle," Economics Letters, Elsevier, vol. 79(3), pages 333-337, June.
  21. Michael Peters, 1999. "Common Agency and the Revelation Principle," Working Papers peters-99-01, University of Toronto, Department of Economics.
  22. Gwenael Piaser, 2005. "Stochastic and deterministic menus in common agency games," Economics Bulletin, AccessEcon, vol. 4(11), pages 1-6.
  23. Gibbard, Allan, 1973. "Manipulation of Voting Schemes: A General Result," Econometrica, Econometric Society, vol. 41(4), pages 587-601, July.
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Citations

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Cited by:
  1. Han, Seungjin, 2012. "On take it or leave it offers in common agency," Economics Letters, Elsevier, vol. 117(3), pages 777-781.
  2. Gwenael Piaser, 2005. "Stochastic and deterministic menus in common agency games," Economics Bulletin, AccessEcon, vol. 4(11), pages 1-6.
  3. repec:ebl:ecbull:v:4:y:2005:i:11:p:1-6 is not listed on IDEAS
  4. Gwenaël Piaser, 2006. "The Biais-Martimort-Rochet equilibrium with direct mechanisms," Working Papers 2006_33, Department of Economics, University of Venice "Ca' Foscari".

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