, and second to maximize safety and soundness considerations for the public which is at risk of bearing the consequences of …

implement the commitment solution with constraints on transfers. Second, absent current competition, the possibility of future …

business strategies. Without government commitment, there is an additional basis for intervention, whose sign depends on the …

always decrease the agency cost, it can have the adverse effect of weakening the principal's commitment not to renegotiate …

A basic model of commitment is to convert a two-player game in strategic form to a “leadership game” with the same …