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On Take It or Leave It Offers in Common Agency

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  • Han, Seungjin

Abstract

If the agent's preference relation satisfies a strict monotonicity condition in common agency under the asymmetric information, the set of all equilibrium allocations in the menu game where menus of contracts are allowed coincides with the set of all equilibrium allocations in the single contract game where only single contracts are allowed.

Suggested Citation

  • Han, Seungjin, 2011. "On Take It or Leave It Offers in Common Agency," Microeconomics.ca working papers seungjin_han-2011-11, Vancouver School of Economics, revised 30 Aug 2012.
  • Handle: RePEc:ubc:pmicro:seungjin_han-2011-11
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    File URL: http://socserv.mcmaster.ca/han/research/TLO.pdf
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    References listed on IDEAS

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    1. ATTAR, Andrea & MAJUMDAR, Dipjyoti & PIASER, Gwenaêl & PORTEIRO, Nicolàs, 2003. "Common agency games with separable preferences," CORE Discussion Papers 2003102, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    2. d'Aspremont, Claude & Dos Santos Ferreira, Rodolphe, 2010. "Oligopolistic competition as a common agency game," Games and Economic Behavior, Elsevier, vol. 70(1), pages 21-33, September.
    3. Alessandro Pavan & Giacomo Calzolari, 2010. "Truthful Revelation Mechanisms for Simultaneous Common Agency Games," American Economic Journal: Microeconomics, American Economic Association, vol. 2(2), pages 132-190, May.
    4. Peters, Michael, 2001. "Common Agency and the Revelation Principle," Econometrica, Econometric Society, vol. 69(5), pages 1349-1372, September.
    5. Peters, Michael & Troncoso-Valverde, Cristián, 2013. "A folk theorem for competing mechanisms," Journal of Economic Theory, Elsevier, vol. 148(3), pages 953-973.
    6. Peters, Michael, 2007. "Erratum to "Negotiation and take it or leave it in common agency": [Journal of Economic Theory 111 (2003) 88-109]," Journal of Economic Theory, Elsevier, vol. 135(1), pages 594-595, July.
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    More about this item

    Keywords

    take it or leave it offers; menus; common agency; robust equilibrium allocations; mixed-strategy equilibrium;

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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