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Existence of Equilibrium in Common Agency Games with Adverse Selection

  • Carmona, Guilherme
  • Fajardo, Jose

We establish the existence of sequential equilibria in general menu games, known to be su±cient 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://fesrvsd.fe.unl.pt/WPFEUNL/WP2006/wp490.pdf
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Paper provided by Universidade Nova de Lisboa, Faculdade de Economia in its series FEUNL Working Paper Series with number wp490.

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Length: 28 pages
Date of creation: 2006
Date of revision:
Handle: RePEc:unl:unlfep:wp490
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  1. Martimort, David & Semenov, Aggey, 2008. "Ideological Uncertainty and Lobbying Competition," MPRA Paper 6992, University Library of Munich, Germany.
  2. Peters, Michael, 2001. "Common Agency and the Revelation Principle," Econometrica, Econometric Society, vol. 69(5), pages 1349-72, September.
  3. 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.
  4. Martimort David & Stole Lars, 2003. "Contractual Externalities and Common Agency Equilibria," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 3(1), pages 1-40, July.
  5. David Martimort & Lars Stole, 2002. "The Revelation and Delegation Principles in Common Agency Games," Econometrica, Econometric Society, vol. 70(4), pages 1659-1673, July.
  6. Kreps, David M & Wilson, Robert, 1982. "Sequential Equilibria," Econometrica, Econometric Society, vol. 50(4), pages 863-94, July.
  7. Page, Frank Jr. & Monteiro, Paulo K., 2003. "Three principles of competitive nonlinear pricing," Journal of Mathematical Economics, Elsevier, vol. 39(1-2), pages 63-109, February.
  8. Paulo Monteiro & Frank Page, 2008. "Catalog competition and Nash equilibrium in nonlinear pricing games," Economic Theory, Springer, vol. 34(3), pages 503-524, March.
  9. 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.
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