The Principal-Agent Matching Market
We propose a model based on competitive markets in order to analyse an economy with several principals and agents. We model the principal-agent economy as a two-sided matching game and characterise the set of stable outcomes of this principal-agent matching market. A simple mechanism to implement the set of stable outcomes is proposed. Finally, we put forward examples of principal-agent economies where the results fit.
|Date of creation:||2003|
|Contact details of provider:|| Postal: Poschingerstrasse 5, 81679 Munich|
Phone: +49 (89) 9224-0
Fax: +49 (89) 985369
Web page: http://www.cesifo-group.de
More information through EDIRC
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.:
- José Alcalde Pérez & Antonio Romero-Medina & David Pérez-Castrillo, 1997.
"Hiring procedures to implement stable allocations,"
Working Papers. Serie AD
1997-10, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Ghatak, Maitreesh & Pandey, Priyanka, 2000. "Contract choice in agriculture with joint moral hazard in effort and risk," Journal of Development Economics, Elsevier, vol. 63(2), pages 303-326, December.
- repec:esx:essedp:550 is not listed on IDEAS
- Romero-Medina, Antonio & Alcalde, J., 1999.
"Simple mechanisms to implement the core of college admissions problems,"
UC3M Working papers. Economics
6124, Universidad Carlos III de Madrid. Departamento de Economía.
- Alcalde, Jose & Romero-Medina, Antonio, 2000. "Simple Mechanisms to Implement the Core of College Admissions Problems," Games and Economic Behavior, Elsevier, vol. 31(2), pages 294-302, May.
- José Alcalde Pérez & Antonio Romero-Medina, 1996. "Simple mechanisms to implement the core of college admissions problems," Working Papers. Serie AD 1996-13, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
- Basu, Kaushik, 1992. "Limited liability and the existence of share tenancy," Journal of Development Economics, Elsevier, vol. 38(1), pages 203-220, January.
- Daniel A. Ackerberg & Maristella Botticini, 1999.
"Endogenous Matching and the Empirical Determinants of Contract Form,"
0096, Boston University - Industry Studies Programme.
- Daniel A. Ackerberg & Maristella Botticini, 2002. "Endogenous Matching and the Empirical Determinants of Contract Form," Journal of Political Economy, University of Chicago Press, vol. 110(3), pages 564-591, June.
- Ackerberg, D.A. & Botticini, M., 1999. "Endogenous Matching and the Empirical Determinants of Contract Form," Papers 96, Boston University - Department of Economics.
- Daniel A. Ackerberg & Maristella Botticini, 1999. "Endogenous Matching and the Empirical Determinants of Contract Form," Boston University - Institute for Economic Development 92, Boston University, Institute for Economic Development.
- Dilip Mookherjee & Debraj Ray, 2002.
"Contractual Structure and Wealth Accumulation,"
American Economic Review,
American Economic Association, vol. 92(4), pages 818-849, September.
- Dilip Mookherjee & Debraj Ray, 2000. "Contractual Structure and Wealth Accumulation," Boston University - Institute for Economic Development 107, Boston University, Institute for Economic Development.
- Dilip Mookherjee & Debraj Ray, 2000. "Contractual Structure and Wealth Accumulation," Econometric Society World Congress 2000 Contributed Papers 1538, Econometric Society.
- Roth,Alvin E. & Sotomayor,Marilda A. Oliveira, 1992.
Cambridge University Press, number 9780521437882, October.
- Roth, Alvin E. & Sotomayor, Marilda, 1992. "Two-sided matching," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 1, chapter 16, pages 485-541 Elsevier.
- Sengupta, Kunal, 1997. "Limited liability, moral hazard and share tenancy," Journal of Development Economics, Elsevier, vol. 52(2), pages 393-407, April.
- David Perez-Castrillo & Marilda Sotomayor, 2000.
"A Simple Selling and Buying Procedure,"
Econometric Society World Congress 2000 Contributed Papers
0704, Econometric Society.
- Besanko, David & Thakor, Anjan V, 1987. "Collateral and Rationing: Sorting Equilibria in Monopolistic and Competitive Credit Markets," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 28(3), pages 671-89, October.
- Tayfun Sönmez & Tarik Kara, 1997. "Implementation of college admission rules (*)," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 9(2), pages 197-218.
- de Mesa, David & Webb, David C., 1992. "Efficient credit rationing," European Economic Review, Elsevier, vol. 36(6), pages 1277-1290, August.
- Fátima Barros & Inés Macho-Stadler, 1998. "Competition for Managers and Product Market Efficiency," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 7(1), pages 89-103, 03.
- Kamecke, U, 1989. "Non-cooperative Matching Games," International Journal of Game Theory, Springer;Game Theory Society, vol. 18(4), pages 423-31.
- Bester,Helmut Hellwig,Martin, 1987. "Moral hazard and equilibrium credit rationing: An overview of the issues," Discussion Paper Serie A 125, University of Bonn, Germany.
- Legros, Patrick & Newman, Andrew, 2002. "Assortative Matching in a Non-transferable World," CEPR Discussion Papers 3469, C.E.P.R. Discussion Papers.
- Bhaskar, V, 2002. "Relative Performance Evaluation and Limited Liability," Economics Discussion Papers 8852, University of Essex, Department of Economics.
- Roberto Perotti, 1996. "Redistribution and Non-Consumption Smoothing in an Open Economy," Review of Economic Studies, Oxford University Press, vol. 63(3), pages 411-433.
- Serfes, Konstantinos, 2005. "Risk sharing vs. incentives: Contract design under two-sided heterogeneity," Economics Letters, Elsevier, vol. 88(3), pages 343-349, September.
When requesting a correction, please mention this item's handle: RePEc:ces:ceswps:_945. 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: (Klaus Wohlrabe)
If references are entirely missing, you can add them using this form.