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Implementing Coordinated Team Play

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  • Anil Arya
  • Jonathan Glover
  • John S. Hughes

Abstract

This note studies a moral hazard model of joint production in which there are strong gains to coordination. The mechanism we propose for resolving the tacit collusion problem that arises in our setting is simple. A key aspect of the mechanism is the use of at- will contracts which provide the agents with the option to quit at any time.

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File URL: http://www.cob.ohio-state.edu/dept/acctmis/fac/arya/work/irjet.doc
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Bibliographic Info

Paper provided by Ohio State University in its series Corporate Finance & Organizations with number _006.

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Handle: RePEc:wop:ohstfi:_006

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  1. Matthew, Jackson O. & Palfrey, Thomas R. & Srivastava, Sanjay., 1990. "Undominated Nash Implementation in Bounded Mechanism," Working Papers 754, California Institute of Technology, Division of the Humanities and Social Sciences.
  2. Jackson, Matthew O, 1992. "Implementation in Undominated.Strategies: A Look at Bounded Mechanisms," Review of Economic Studies, Wiley Blackwell, vol. 59(4), pages 757-75, October.
  3. Arya Anil & Glover Jonathan, 1995. "A Simple Forecasting Mechanism for Moral Hazard Settings," Journal of Economic Theory, Elsevier, vol. 66(2), pages 507-521, August.
  4. Sjostrom, T., 1991. "Implementation in Undominated Nash Equilibria without Integer Games," Papers 491, Stockholm - International Economic Studies.
  5. Mookherjee, Dilip, 1984. "Optimal Incentive Schemes with Many Agents," Review of Economic Studies, Wiley Blackwell, vol. 51(3), pages 433-46, July.
  6. Abreu, Dilip & Matsushima, Hitoshi, 1992. "A Response [Virtual Implementation in Iteratively Undominated Strategies I: Complete Information]," Econometrica, Econometric Society, vol. 60(6), pages 1439-42, November.
  7. Abreu Dilip & Matsushima Hitoshi, 1994. "Exact Implementation," Journal of Economic Theory, Elsevier, vol. 64(1), pages 1-19, October.
  8. Abreu, Dilip & Matsushima, Hitoshi, 1992. "Virtual Implementation in Iteratively Undominated Strategies: Complete Information," Econometrica, Econometric Society, vol. 60(5), pages 993-1008, September.
  9. Ma, Ching-To, 1988. "Unique Implementation of Incentive Contracts with Many Agents," Review of Economic Studies, Wiley Blackwell, vol. 55(4), pages 555-72, October.
  10. Demski, Joel S. & Sappington, David, 1984. "Optimal incentive contracts with multiple agents," Journal of Economic Theory, Elsevier, vol. 33(1), pages 152-171, June.
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Cited by:
  1. Pablo AmorĂ³s, 2003. "Nash Implementation and Uncertain Renegotiation," Economic Working Papers at Centro de Estudios Andaluces E2003/27, Centro de Estudios Andaluces.
  2. Jackson, Matthew O., 1999. "A Crash Course in Implementation Theory," Working Papers 1076, California Institute of Technology, Division of the Humanities and Social Sciences.
  3. Bond, Philip & Pande, Rohini, 2007. "Coordinating development: Can income-based incentive schemes eliminate Pareto inferior equilibria?," Journal of Development Economics, Elsevier, vol. 83(2), pages 368-391, July.
  4. Dennis Courtney & Thomas Marschak, 2009. "Inefficiency and complementarity in sharing games," Review of Economic Design, Springer, vol. 13(1), pages 7-43, April.
  5. Jackson, Matthew O. & Palfrey, Thomas R., 1999. "Voluntary Implementation," Working Papers 1077, California Institute of Technology, Division of the Humanities and Social Sciences.
  6. Pierre Fleckinger, 2007. "On Multiagent Moral Hazard under Technological Uncertainty," Working Papers hal-00240716, HAL.

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