The Revelation and Delegation Principles in Common Agency Games
In the context of common agency adverse-selection games weillustrate that the revelation principle cannot be applied to studyequilibria of the multi-principal games. We then demonstrate thatan extension of the taxation principle – what we term the“delegation principle” – can be used to characterize the set of allcommon agency equilibria.
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- repec:oup:restud:v:53:y:1986:i:3:p:447-56 is not listed on IDEAS
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