for new debt issuances implement the optimal mechanism, while equity injections and asset buyback do not. We also discuss …

analyze the optimal mechanism offered by the principal to allocate the good and show that the principal will produce a good …

This paper studies the cost requirement for two-agent collusion-proof mechanism design. Unlike the existing results for …

obstacles to achieving stable agreements. We address these issues by proposing the first mechanism to implement the efficient … mechanism is simple and in the vein of the well-known Divide and Choose procedure. The unique Nash equilibrium outcome of our … mechanism coincides with truthtelling, is budget-balanced, individually rational and immune to coalitional deviations. More …