This paper challenges recent results on the fragility of the value of commitment. It introduces a specific notion of the ’value of information’ for a later-moving player about the action choice of a previously-moving player, gives conditions under which this value is positive and shows that...

This paper studies a simple setting in which the contractual arrangements which determine the incentives for agents are not designed by a single central planner, but are themselves the outcome of a game among multiple noncooperatively acting principals. The notion of an Epsilon Contracting...

This paper challenges recent results on the fragility of the value of commitment. It introduces a specific notion of the 'value of information' for a later-moving player about the action choice of a previously-moving player, gives conditions under which this value is positive and shows that a...

This paper challenges recent results on the fragility of the value of commitment. It introduces a specific notion of the 'value of information' for a later-moving player about the action choice of a previously-moving player, gives conditions under which this value is positive and shows that a...

This paper studies a simple setting in which the contractual arrangements which determine the incentives for agents are not designed by a single central planner, but are themselves the outcome of a game among multiple non-cooperatively acting principals. The notion of an Epsilon Contracting...

This paper studies a simple setting in which the contractual arrangements which determine the incentives for agents are not designed by a single central planner, but are themselves the outcome of a game among multiple non-cooperatively acting principals. The notion of an Epsilon Contracting...