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), the principal then responds by offering the agent a (possibly degenerate) menu of contracts that are payoff-equivalent for …'s strategy to be Markov is without loss in the case of deterministic decisions, e.g. when the contracts are deterministic and the …
Persistent link: https://www.econbiz.de/10005824589
-strategy profiles in which the principals offer menus of contracts and delegate to the agent the choice of the contractual terms. We …
Persistent link: https://www.econbiz.de/10008597101
This paper considers games in which multiple principals contract simultaneously with the same agent. We introduce a new class of revelation mechanisms that, although it does not always permit a complete equilibrium characterization, it facilitates the characterization of the equilibrium outcomes...
Persistent link: https://www.econbiz.de/10010266294
-strategy profiles in which the principals offer menus of contracts and delegate to the agent the choice of the contractual terms. We …
Persistent link: https://www.econbiz.de/10010282900
), the principal then responds by offering the agent a (possibly degenerate) menu of contracts that are payoff-equivalent for …'s strategy to be Markov is without loss in the case of deterministic decisions, e.g. when the contracts are deterministic and the …
Persistent link: https://www.econbiz.de/10012236189
), the principal then responds by offering the agent a (possibly degenerate) menu of contracts that are payoff— equivalent …’s strategy to be Markov is without loss in the case of deterministic decisions, e.g. when the contracts are deterministic and the …
Persistent link: https://www.econbiz.de/10005498138
In games in which multiple principals contract simultaneously and non-cooperatively with the same agent, standard direct revelation mechanisms in which the agent reports his type(i.e. his exogenous private information) have been proven inadequate to characterize the entire set of equilibrium...
Persistent link: https://www.econbiz.de/10005252337
This paper considers games in which multiple principals contract simultaneously with the same agent. We introduce a new class of revelation mechanisms that, although it does not always permit a complete equilibrium characterization, it facilitates the characterization of the equilibrium outcomes...
Persistent link: https://www.econbiz.de/10005013911
This paper considers an environment where two principals sequentially contract with a common agent and studies the exchange of information between the two bilateral relationships. We show that when (a) the upstream principal is not personally interested in the decisions taken by the downstream...
Persistent link: https://www.econbiz.de/10010266292
This paper studies the exchange of information between two principals who contract sequentially with the same agent, as in the case of a buyer who purchases from multiple sellers. We show that when (a) the upstream principal is not personally interested in the downstream level of trade, (b) the...
Persistent link: https://www.econbiz.de/10010266304