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.
|Date of creation:||19 Feb 2014|
|Date of revision:||19 Feb 2014|
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Microeconomics.ca working papers
michael_peters-2010-17, Vancouver School of Economics, revised 19 Oct 2013.
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