Implementing Coordinated Team Play
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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- 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.
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- Matthew O. Jackson, 1990. "Undominated Nash Implementation in Bounded Mechanisms," Discussion Papers 966, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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- Matthew 0. Jackson, 1989.
"Implementation in Undominated Strategies - A Look at Bounded Mechanisms,"
833, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- 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.
- Demski, Joel S. & Sappington, David, 1984. "Optimal incentive contracts with multiple agents," Journal of Economic Theory, Elsevier, vol. 33(1), pages 152-171, June.
- Sjostrom Tomas, 1994.
"Implementation in Undominated Nash Equilibria without Integer Games,"
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Elsevier, vol. 6(3), pages 502-511, May.
- Sjostrom, T., 1991. "Implementation in Undominated Nash Equilibria without Integer Games," Papers 491, Stockholm - International Economic Studies.
- Abreu, Dilip & Matsushima, Hitoshi, 1992. "Virtual Implementation in Iteratively Undominated Strategies: Complete Information," Econometrica, Econometric Society, vol. 60(5), pages 993-1008, September.
- Abreu Dilip & Matsushima Hitoshi, 1994. "Exact Implementation," Journal of Economic Theory, Elsevier, vol. 64(1), pages 1-19, October.
- 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.
- 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.
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