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Pure strategy and no-externalities with multiple agents : a comment

  • ATTAR, Andrea
  • CAMPIONI, Eloisa
  • PIASER, Gwenaël
  • RAJAN, Uday

In this note we consider a basic property of common agency models: pure strategy equilibria of games where principals compete in direct mechanisms are robust to the possibility that principals might deviate and use more complex indirect mechanisms to design their contracts. We show that this property can be generalized to multi-principal multi-agent models.

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Paper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 2004050.

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Date of creation: 00 Jul 2004
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Handle: RePEc:cor:louvco:2004050
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  1. Michael Peters, 1999. "Common Agency and the Revelation Principle," Working Papers peters-99-01, University of Toronto, Department of Economics.
  2. Strausz, Roland, 2003. "Deterministic mechanisms and the revelation principle," Economics Letters, Elsevier, vol. 79(3), pages 333-337, June.
  3. Prat, A. & Rustichini, A., 1999. "Games Played Through Agents," Discussion Paper 1999-68, Tilburg University, Center for Economic Research.
  4. 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.
  5. Myerson, Roger B., 1982. "Optimal coordination mechanisms in generalized principal-agent problems," Journal of Mathematical Economics, Elsevier, vol. 10(1), pages 67-81, June.
  6. McAfee, R Preston, 1993. "Mechanism Design by Competing Sellers," Econometrica, Econometric Society, vol. 61(6), pages 1281-1312, November.
  7. David Martimort & Lars Stole, 2001. "The Revelation and Delegation Principles in Common Agency Games," CESifo Working Paper Series 575, CESifo Group Munich.
  8. Michael Peters, 2003. "Pure strategy and no-externalities with multiple agents," Economic Theory, Springer, vol. 23(1), pages 183-194, December.
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