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stands in sharp contrast with the more positive efficiency result that the common agency literature has unveiled when …
Persistent link: https://www.econbiz.de/10011599427
stands in sharp contrast with the more positive efficiency result that the common agency literature has unveiled when …
Persistent link: https://www.econbiz.de/10008595767
We characterize the complete set of equilibrium allocations to an intrinsic common agency screening game as the set of solutions to self-generating optimization programs. We provide a complete characterization of equilibrium outcomes for regular environments by relying on techniques developed...
Persistent link: https://www.econbiz.de/10012010054
We present a set of necessary and sufficient conditions for a class of optimal control problems with pure state constraints for which the objective function is linear in the state variable but the objective function is only required to be upper semi-continuous in the control variable. We apply...
Persistent link: https://www.econbiz.de/10014536915