Pure strategy and no-externalities with multiple agents : a comment
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.
|Date of creation:||00 Jul 2004|
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- Michael Peters, 2003. "Pure strategy and no-externalities with multiple agents," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 23(1), pages 183-194, December.
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"Negotiation and take it or leave it in common agency,"
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Elsevier, vol. 111(1), pages 88-109, July.
- Michael Peters, 2000. "Negotiation and Take it or Leave it in Common Agency," Working Papers peters-00-02, University of Toronto, Department of Economics.
- Myerson, Roger B., 1982. "Optimal coordination mechanisms in generalized principal-agent problems," Journal of Mathematical Economics, Elsevier, vol. 10(1), pages 67-81, June.
- Michael Peters, 1999.
"Common Agency and the Revelation Principle,"
peters-99-01, University of Toronto, Department of Economics.
- David Martimort & Lars Stole, 2001.
"The Revelation and Delegation Principles in Common Agency Games,"
CESifo Working Paper Series
575, CESifo Group Munich.
- David Martimort & Lars Stole, 2002. "The Revelation and Delegation Principles in Common Agency Games," Econometrica, Econometric Society, vol. 70(4), pages 1659-1673, July.
- Strausz, Roland, 2003. "Deterministic mechanisms and the revelation principle," Economics Letters, Elsevier, vol. 79(3), pages 333-337, June.
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