We prove a folk theorem for games in which mechanism designers compete in mechanisms and in which there are at least 4 players. All allocations supportable by a centralized mechanism designer, including allocations involving correlated actions (and correlated punishments) can be supported as...

This paper provides a set of mechanisms that we refer to as emph{reciprocal mechanisms. }These mechanisms have the property that every outcome that can be supported as a Bayesian equilibrium in a competing mechanism game can be supported as an equilibrium in reciprocal mechanisms. In this sense,...

We study a mechanism design problem in which players can take part in a mechanism to coordinate their actions in a default game. By refusing to participate in the mechanism, a player can revert to playing the default game non-cooperatively. We show with an example that some allocation rules are...

This paper studies Bayesian equilibrium in a worker firm matching problem in which workers choose their human capi- tal investment and firms choose wages before the matching process occurs. Symmetric equilibrium exists, and supports assortative matching. However, when the number of traders is...

Two sides of a finite marriage market engage in costly investment and are then matched assortatively. The purpose of the investment is solely to improve the quality of the match that trader can attain in the second stage. The paper studies the limits of equilibrium of these finite matching games...

The paper proves existence of equilibrium in a fairly general version of the pre-marital investment game. The game has discontinuous payoffs, so the method of Reny (1999) is used. Three assumptions are imposed on the matching process that occurs after investments are realized. It must be...

This paper studies an internet trading mechanism similar to the one described in Peters and Severinov (2000) in a market where traders values are interdependent. Conditions are given for which this mechanism has a perfect Bayesian equilibrium which supports allocations that are the same as the...

This note considers two properties of common agency models - pure strategy equilibria with simple competition are robust and equilibria in mechanisms can be reproduced as equilibria with simple competition provided an appropriate no-externalities assumption holds. This note provides counter...

This paper provides a directed search model designed to explain the residual part of wage variation left over after the impact of education and other observable worker characteristics has been removed. Workers have private information about their characteristics at the time they apply for jobs....

This paper analyzes Bayesian normal form games in which players write contracts that condition their actions on the contracts of the other players. These contracts are required to be representable in a formal language. This is accomplished by constructing contracts which are definable functions...