Competing mechanism games of moral hazard: communication and robustness
We consider multiple-principal multiple-agent models of moral hazard: principals compete through mechanisms in the presence of agents who take unobservable actions. In this context, we provide a rationale for restricting principals to make use of simple mechanisms, which correspond to direct mechanisms in the standard framework of Myerson (J Math Econ 10:67–81, 1982 ). Our results complement those of Han (J Econ Theory 137(1):610–626, 2007 ) who analyzes a complete information setting where agents’ actions are fully contractible. Copyright Springer-Verlag 2012
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 16 (2012)
Issue (Month): 4 (December)
|Contact details of provider:|| Web page: http://www.springer.com|
|Order Information:||Web: http://www.springer.com/economics/journal/10058|
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.:
- Takuro Yamashita, 2010. "Mechanism Games With Multiple Principals and Three or More Agents," Econometrica, Econometric Society, vol. 78(2), pages 791-801, 03.
- R. Aumann, 2010.
"Subjectivity and Correlation in Randomized Strategies,"
Levine's Working Paper Archive
389, David K. Levine.
- Aumann, Robert J., 1974. "Subjectivity and correlation in randomized strategies," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 67-96, March.
- AUMANN, Robert J., . "Subjectivity and correlation in randomized strategies," CORE Discussion Papers RP 167, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Giacomo Calzolari & Alessandro Pavan, 2007.
"Truthful Revelation Mechanisms for Simultaneous Common Agency Games,"
1458, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Alessandro Pavan & Giacomo Calzolari, 2010. "Truthful Revelation Mechanisms for Simultaneous Common Agency Games," American Economic Journal: Microeconomics, American Economic Association, vol. 2(2), pages 132-90, May.
- Alessandro Pavan & Giacomo Calzolari, 2008. "Truthful Revelation Mechanisms for Simultaneous Common Agency Games," Carlo Alberto Notebooks 85, Collegio Carlo Alberto.
- Andrea Attar & Eloisa Campioni & Gwenael Piaser, 2011. "Information Revelation in Competing Mechanism Games," CEIS Research Paper 205, Tor Vergata University, CEIS, revised 04 Jul 2011.
- Andrea Attar & Arnold Chassagnon, 2006.
"On moral hazard and nonexclusive contracts,"
PSE Working Papers
- Andrea Attar & Eloisa Campioni & Gwenaël Piaser & Uday Rajan, 2007.
"On multiple-principal multiple-agent models of moral hazard,"
LSF Research Working Paper Series
07-01, Luxembourg School of Finance, University of Luxembourg.
- Attar, Andrea & Campioni, Eloisa & Piaser, Gwenaël & Rajan, Uday, 2010. "On multiple-principal multiple-agent models of moral hazard," Games and Economic Behavior, Elsevier, vol. 68(1), pages 376-380, January.
- McAfee, R Preston, 1993. "Mechanism Design by Competing Sellers," Econometrica, Econometric Society, vol. 61(6), pages 1281-1312, November.
- Jack High (ed.), 2001. "Competition," Books, Edward Elgar Publishing, number 1751, 10.
- Larry Epstein & Michael Peters, 1996.
"A Revelation Principle For Competing Mechanisms,"
peters-96-02, University of Toronto, Department of Economics.
- David Martimort & Lars Stole, 2002.
"The Revelation and Delegation Principles in Common Agency Games,"
Econometric Society, vol. 70(4), pages 1659-1673, July.
- David Martimort & Lars Stole, 2001. "The Revelation and Delegation Principles in Common Agency Games," CESifo Working Paper Series 575, CESifo Group Munich.
- Han, Seungjin, 2004.
"Menu Theorems for Bilateral Contracting,"
Microeconomics.ca working papers
han-04-01-29-10-05-13, Vancouver School of Economics, revised 29 Jan 2004.
- Han, Seungjin, 2007. "Strongly robust equilibrium and competing-mechanism games," Journal of Economic Theory, Elsevier, vol. 137(1), pages 610-626, November.
- Peters, Michael & Troncoso-Valverde, Cristian, 2010.
"A Folk Theorem for Competing Mechanisms,"
Microeconomics.ca working papers
michael_peters-2010-17, Vancouver School of Economics, revised 19 Oct 2013.
- Christine A. Parlour & Uday Rajan, 2001. "Competition in Loan Contracts," American Economic Review, American Economic Association, vol. 91(5), pages 1311-1328, December.
- Bisin, Alberto & Guaitoli, Danilo, 1998.
"Moral Hazard and Non-Exclusive Contracts,"
CEPR Discussion Papers
1987, C.E.P.R. Discussion Papers.
- Bisin, A. & Guaitoli, D., 1998. "Moral Hazard and Non-Exclusive Contracts," Working Papers 98-24, C.V. Starr Center for Applied Economics, New York University.
- Alberto Bisin & Danilo Guaitoli, 1998. "Moral hazard and non-exclusive contracts," Economics Working Papers 345, Department of Economics and Business, Universitat Pompeu Fabra.
- Michael Peters, 1999.
"Common Agency and the Revelation Principle,"
peters-99-01, University of Toronto, 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.
- Michael Peters, 2000.
"Negotiation and Take it or Leave it in Common Agency,"
peters-00-02, University of Toronto, Department of Economics.
- Peters, Michael, 2003. "Negotiation and take it or leave it in common agency," Journal of Economic Theory, Elsevier, vol. 111(1), pages 88-109, July.
When requesting a correction, please mention this item's handle: RePEc:spr:reecde:v:16:y:2012:i:4:p:283-296. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla)or (Rebekah McClure)
If references are entirely missing, you can add them using this form.