Common Agency and the Revelation Principle
In the common agency problem multiple mechanism designer simultaneously attempt to control the behavior of a single privately informed agent. The paper shows that the allocations associated with equilibria relative to any ad hoc set of fessible mechanisms can be reproduce as equilibria relative to (some subset of) the set of menus. Furthermore, equilibria relative to the set of menus are weakly robust in the sense that it is possible to find continuation equilibria so that the equilibrium allocations persist even when the set of feasible mechanisms is enlarged.
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Volume (Year): 69 (2001)
Issue (Month): 5 (September)
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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.:
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- Epstein, Larry G. & Peters, Michael, 1999.
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Elsevier, vol. 88(1), pages 119-160, September.
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qt79b870w0, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
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- Michael L. Katz., 1991. "Game-Playing Agents: Unobservable Contracts as Precommitments," Economics Working Papers 91-172, University of California at Berkeley.
- Peters, Michael, 1997.
"On the Equivalence of Walrasian and Non-Walrasian Equilibria in Contract Markets: The Case of Complete Contracts,"
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- Michael Peters, 1995. "On the Equivalence of Walrasian and Non-Walrasian Equilibria in Contract Markets: The case of Complete Contracts," Working Papers peters-95-01, University of Toronto, Department of Economics.
- Michael Peters, 1995. "On the Equivalence of Walrasian and Non-Walrasian Equilibria in Contract Markets: The case of Complete Contracts," GE, Growth, Math methods 9507001, EconWPA.
- Roger B. Myerson, 1977.
"Incentive Compatability and the Bargaining Problem,"
284, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Myerson, Roger B, 1979. "Incentive Compatibility and the Bargaining Problem," Econometrica, Econometric Society, vol. 47(1), pages 61-73, January.
- 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.
- Dixit, Avinash & Grossman, Gene M. & Helpman, Elhanan, 1997. "Common Agency and Coordination: General Theory and Application to Government Policy Making," Scholarly Articles 3450061, Harvard University Department of Economics.
- Myerson, Roger B., 1982. "Optimal coordination mechanisms in generalized principal-agent problems," Journal of Mathematical Economics, Elsevier, vol. 10(1), pages 67-81, June.
- McAfee, R Preston, 1993. "Mechanism Design by Competing Sellers," Econometrica, Econometric Society, vol. 61(6), pages 1281-1312, November.
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