An Experimental Examination Of Common Agency
An equilibrium solution is developed for a common-agency game that is used to study the structure of regulatory bureaucracy. Contrary to existing results, this equilibrium maintains powerful incentives for the agent. An experiment is conducted to test the competing hypotheses. The implications of common-agency on reciprocity are also examined.
|Date of creation:||2002|
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- Vital Anderhub & Simon Gächter & Manfred Königstein, 2002.
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