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Existence of Equilibrium in Common Agency Games with Adverse Selection

  • Guilherme Carmona

    (Universidade Nova de Lisboa)

  • José Fajardo

    (IBMEC Business School - Rio de Janeiro)

We establish the existence of sequential equilibria in general menu games, known to be sufficient to analyze common agency problems. In particular, we show that our result solves some unpleasant features of early approaches.

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File URL: http://professores.ibmecrj.br/erg/dp/papers/dp200605.pdf
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Paper provided by Economics Research Group, IBMEC Business School - Rio de Janeiro in its series IBMEC RJ Economics Discussion Papers with number 2006-05.

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Date of creation: 24 Oct 2006
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Handle: RePEc:ibr:dpaper:2006-05
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  1. Martimort, David & Stole, Lars, 1999. "Contractual Externalities and Common Agency Equilibria," IDEI Working Papers 110, Institut d'Économie Industrielle (IDEI), Toulouse, revised 2003.
  2. David Martimort & Lars Stole, 2001. "The Revelation and Delegation Principles in Common Agency Games," CESifo Working Paper Series 575, CESifo Group Munich.
  3. Page Junior, Frank H. & Monteiro, P. K., 2002. "Three principles of competitive nonlinear pricing," Economics Working Papers (Ensaios Economicos da EPGE) 442, FGV/EPGE Escola Brasileira de Economia e Finanças, Getulio Vargas Foundation (Brazil).
  4. Peters, Michael, 2001. "Common Agency and the Revelation Principle," Econometrica, Econometric Society, vol. 69(5), pages 1349-72, September.
  5. Paulo Monteiro & Frank Page, 2008. "Catalog competition and Nash equilibrium in nonlinear pricing games," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 34(3), pages 503-524, March.
  6. Kreps, David M & Wilson, Robert, 1982. "Sequential Equilibria," Econometrica, Econometric Society, vol. 50(4), pages 863-94, July.
  7. Simon, Leo K. & Zame, William R., 1987. "Discontinous Games and Endogenous Sharing Rules," Department of Economics, Working Paper Series qt8n46v2wv, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
  8. Martimort, David & Semenov, Aggey, 2008. "Ideological Uncertainty and Lobbying Competition," MPRA Paper 6992, University Library of Munich, Germany.
  9. Maskin, Eric & Tirole, Jean, 1990. "The Principal-Agent Relationship with an Informed Principal: The Case of Private Values," Econometrica, Econometric Society, vol. 58(2), pages 379-409, March.
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