This paper describes situations where commitment via delegation is beneficial, even when the delegation is unobservable and the players have the option to play the game themselves. The potential for such benefits depends on the type of delegation, incentive versus instructive, the possibility of repetition, and the probability of observability. Copyright 1997 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.
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|Date of creation:||1993|
|Date of revision:|
|Contact details of provider:|| Postal: Tel-Aviv University, The Sackler Institute of Economic Studies, Ramat Aviv 69 978 Tel-Aviv, Israel|
Web page: http://econ.tau.ac.il/
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- Katz, Michael L., 1991.
"Game-Playing Agents: Unobservable Contracts as Precommitments,"
Department of Economics, Working Paper Series
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1014, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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"Equilibrium Incentives in Oligopoly,"
642, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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Econometric Society, vol. 63(3), pages 621-46, May.
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- Mathias Dewatripont, 1988.
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ULB Institutional Repository
2013/9569, ULB -- Universite Libre de Bruxelles.
- Mathias Dewatripont, 1988. "Commitment through Renegotiation-Proof Contracts with Third Parties," ULB Institutional Repository 2013/175990, ULB -- Universite Libre de Bruxelles.
- James A. Brander & Barbara J. Spencer, 1984.
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1464, National Bureau of Economic Research, Inc.
- Brander, James A. & Spencer, Barbara J., 1985. "Export subsidies and international market share rivalry," Journal of International Economics, Elsevier, vol. 18(1-2), pages 83-100, February.
- Vickers, John, 1985. "Delegation and the Theory of the Firm," Economic Journal, Royal Economic Society, vol. 95(380a), pages 138-47, Supplemen.
- Bolton, Patrick & Scharfstein, David S, 1990. "A Theory of Predation Based on Agency Problems in Financial Contracting," American Economic Review, American Economic Association, vol. 80(1), pages 93-106, March.
- Mathias Dewatripont, 1988. "Commitment Through Renegotiation-Proof Contracts with Third Parties," Review of Economic Studies, Oxford University Press, vol. 55(3), pages 377-390.
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