Evans, Robert; Reiche, Sönje - In: Economics Letters 99 (2008) 3, pp. 611-614
Bester and Strausz [Bester, H., Strausz, R., 2001. Contracting with imperfect commitment and the revelation principle: the single agent case. Econometrica 69, 1077-1098] showed that the revelation principle is invalid in a multi-agent, no-commitment setting. We show that if transfers are...
