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An Experimental Examination Of Common Agency

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  • Alevy, Jonathan E.

Abstract

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.

Suggested Citation

  • Alevy, Jonathan E., 2002. "An Experimental Examination Of Common Agency," 2002 Annual meeting, July 28-31, Long Beach, CA 19876, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea02:19876
    DOI: 10.22004/ag.econ.19876
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    References listed on IDEAS

    as
    1. Anderson, Simon P. & Goeree, Jacob K. & Holt, Charles A., 2001. "Minimum-Effort Coordination Games: Stochastic Potential and Logit Equilibrium," Games and Economic Behavior, Elsevier, vol. 34(2), pages 177-199, February.
    2. Vital Anderhub & Simon Gächter & Manfred Königstein, 2002. "Efficient Contracting and Fair Play in a Simple Principal-Agent Experiment," Experimental Economics, Springer;Economic Science Association, vol. 5(1), pages 5-27, June.
    3. B. Douglas Bernheim & Michael D. Whinston, 1986. "Menu Auctions, Resource Allocation, and Economic Influence," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 101(1), pages 1-31.
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