Unique Implementation of Action Profiles: Necessary and Sufficient Conditions
I study the general problem of a principal who desires to implement a given vector of actions and pay the agents according to a given compensation scheme. Previous work has provided mechanisms for implementation in various special cases. In this article, I fully characterize the set of action profiles and compensation schemes implementable in subgame-perfect equilibrium, providing necessary and sufficient conditions for implementation. Copyright Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association
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Volume (Year): 43 (2002)
Issue (Month): 2 (May)
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- Ching-To Ma, 1988. "Unique Implementation of Incentive Contracts with Many Agents," Review of Economic Studies, Oxford University Press, vol. 55(4), pages 555-572.
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- Ma, Ching-to & Moore, John & Turnbull, Stephen, 1988. "Stopping agents from "cheating"," Journal of Economic Theory, Elsevier, vol. 46(2), pages 355-372, December.
- Moore, John & Repullo, Rafael, 1990. "Nash Implementation: A Full Characterization," Econometrica, Econometric Society, vol. 58(5), pages 1083-99, September.
- 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.
- 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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