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Two Types of Collusion in a Model of Hierarchical Agency

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  • Mehmet Bac

    (Sabancý University)

  • Serkan Kucuksenel

    (California Institute of Technology)

Abstract

We introduce ex-ante collusion whereby the supervisor stops monitoring for a transfer payment from the agent, in addition to ex-post collusion following the monitoring outcome. Extending a well-known model of hierarchy, we study the determinants of ex-ante collusion and show that, depending on the parameter values we identify, the principal can ignore either ex-post or ex-ante collusion.

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File URL: http://128.118.178.162/eps/game/papers/0508/0508001.pdf
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Bibliographic Info

Paper provided by EconWPA in its series Game Theory and Information with number 0508001.

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Length: 18 pages
Date of creation: 04 Aug 2005
Date of revision:
Handle: RePEc:wpa:wuwpga:0508001

Note: Type of Document - pdf; pages: 18
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Web page: http://128.118.178.162

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Keywords: hierarchy; incentives; collusion;

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  1. Laffont, Jean-Jacques, 1990. "Analysis of Hidden Gaming in a Three-Level Hierarchy," Journal of Law, Economics and Organization, Oxford University Press, vol. 6(2), pages 301-24, Fall.
  2. Bac, Mehmet, 1996. "Corruption, Supervision, and the Structure of Hierarchies," Journal of Law, Economics and Organization, Oxford University Press, vol. 12(2), pages 277-98, October.
  3. Kofman, Fred & Lawarree, Jacques, 1993. "Collusion in Hierarchical Agency," Econometrica, Econometric Society, vol. 61(3), pages 629-56, May.
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