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Competing Mechanisms

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  • Peters, Michael

Abstract

The recent literature on competing mechanisms has devoted a lot of effort at understanding a very complex and abstract issue. In particular, an agent's type in a competitive environment is hard to conceptualize because it depends on information the agent has about what is going on in the rest of the market. This paper explains why this such an important practical problem and illustrates how the literature has 'solved' it.

Suggested Citation

  • Peters, Michael, 2014. "Competing Mechanisms," Microeconomics.ca working papers michael_peters-2014-7, Vancouver School of Economics, revised 19 Feb 2014.
    • Handle: RePEc:ubc:pmicro:michael_peters-2014-7
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    File URL: http://montoya.econ.ubc.ca/mike/ca_survey.pdf
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    References listed on IDEAS

    as
    1. Pavan, Alessandro & Calzolari, Giacomo, 2009. "Sequential contracting with multiple principals," Journal of Economic Theory, Elsevier, vol. 144(2), pages 503-531, March.
    2. Peters, Michael, 2001. "Common Agency and the Revelation Principle," Econometrica, Econometric Society, vol. 69(5), pages 1349-1372, September.
    3. McAfee, R Preston, 1993. "Mechanism Design by Competing Sellers," Econometrica, Econometric Society, vol. 61(6), pages 1281-1312, November.
    4. Peters, Michael & Troncoso-Valverde, Cristián, 2013. "A folk theorem for competing mechanisms," Journal of Economic Theory, Elsevier, vol. 148(3), pages 953-973.
    5. Takuro Yamashita, 2010. "Mechanism Games With Multiple Principals and Three or More Agents," Econometrica, Econometric Society, vol. 78(2), pages 791-801, March.
    6. Epstein, Larry G. & Peters, Michael, 1999. "A Revelation Principle for Competing Mechanisms," Journal of Economic Theory, Elsevier, vol. 88(1), pages 119-160, September.
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    Cited by:

    1. Ahmad Peivandi & Rakesh V. Vohra, 2021. "Instability of Centralized Markets," Econometrica, Econometric Society, vol. 89(1), pages 163-179, January.
    2. Attar, Andrea & Campioni, Eloisa & Piaser, Gwenaël, 2019. "Private communication in competing mechanism games," Journal of Economic Theory, Elsevier, vol. 183(C), pages 258-283.
    3. 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.
    4. Arribas, I. & Urbano, A., 2017. "Multiproduct trading with a common agent under complete information: Existence and characterization of Nash equilibrium," Journal of Economic Theory, Elsevier, vol. 167(C), pages 14-38.
    5. Patrick Hummel, 2018. "How do selling mechanisms affect profits, surplus, capacity and prices with unknown demand?," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 51(1), pages 94-126, February.
    6. Seungjin Han & Siyang Xiong, 2021. "A Unified Approach to Equilibrium Analysis in Competing Mechanism Games," Department of Economics Working Papers 2021-09, McMaster University.
    7. Michela Cella & Federico Etro, 2016. "Contract competition between hierarchies, managerial compensation and imperfectly correlated shocks," Journal of Economics, Springer, vol. 118(3), pages 193-218, July.
    8. Li, Anqi & Xing, Yiqing, 2020. "Intermediated implementation," European Economic Review, Elsevier, vol. 123(C).
    9. Lavi, Ron & Shamash, Elisheva S., 2022. "Principal-agent VCG contracts," Journal of Economic Theory, Elsevier, vol. 201(C).

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