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On competing mechanisms under exclusive competition

Author

Listed:
  • Andrea Attar

    (IDEI - Institut d'Economie Industrielle - UT Capitole - Université Toulouse Capitole - Comue de Toulouse - Communauté d'universités et établissements de Toulouse, TSM - Toulouse School of Management Research - UT Capitole - Université Toulouse Capitole - Comue de Toulouse - Communauté d'universités et établissements de Toulouse - CNRS - Centre National de la Recherche Scientifique - TSM - Toulouse School of Management - UT Capitole - Université Toulouse Capitole - Comue de Toulouse - Communauté d'universités et établissements de Toulouse)

  • Eloisa Campioni

    (Università degli Studi di Roma Tor Vergata [Roma, Italia] = University of Rome Tor Vergata [Rome, Italy] = Université de Rome Tor Vergata [Rome, Italie])

  • Gwenaël Piaser

    (IPAG Business School)

Abstract

We study games in which several principals design mechanisms in the presence of privately informed agents. Competition is exclusive: each type of each agent can participate with at most one principal and meaningfully communicate only with him. Economic models of exclusive competition restrict principals to use standard direct mechanisms, which induce truthful revelation of agents’ exogenous private information. This paper investigates the rationale for this restriction. We provide two results. First, we construct examples showing that direct mechanisms fail to completely characterize equilibrium outcomes even if we restrict to pure strategy equilibria. Second, we show that truth-telling strongly robust equilibrium outcomes survive against principals’ unilateral deviations toward arbitrary mechanisms.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Andrea Attar & Eloisa Campioni & Gwenaël Piaser, 2018. "On competing mechanisms under exclusive competition," Post-Print hal-01897713, HAL.
    • Handle: RePEc:hal:journl:hal-01897713
    DOI: 10.1016/j.geb.2018.06.001
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    Cited by:

    1. Xie, Yimei & Ding, Chuan & Li, Yang & Wang, Kaihong, 2023. "Optimal incentive contract in continuous time with different behavior relationships between agents," International Review of Financial Analysis, Elsevier, vol. 86(C).
    2. Attar, Andrea & Campioni, Eloisa & Mariotti, Thomas & Piaser, Gwenaël, 2021. "Competing mechanisms and folk theorems: Two examples," Games and Economic Behavior, Elsevier, vol. 125(C), pages 79-93.
    3. Frédéric Koessler & Marie Laclau & Tristan Tomala, 2022. "Interactive Information Design," Mathematics of Operations Research, INFORMS, vol. 47(1), pages 153-175, February.
    4. Attar, Andrea & Campioni, Eloisa & Piaser, Gwenaël, 2018. "On competing mechanisms under exclusive competition," Games and Economic Behavior, Elsevier, vol. 111(C), pages 1-15.
    5. Han, Seungjin, 2022. "General competing mechanism games with strategy-proof punishment," Journal of Mathematical Economics, Elsevier, vol. 102(C).
    6. Forges, Françoise & Koessler, Frédéric & Salamanca, Andrés, 2024. "Interacting mechanisms: A perspective on generalized principal–agent problems," Journal of Mathematical Economics, Elsevier, vol. 114(C).

    More about this item

    JEL classification:

    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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