agent has some discretion to favor a firm in exchange for a bribe. While unilateral commitment to transparency is never … incentive compatible, under some circumstances a voluntary but conditional commitment mechanism can eliminate corruption. A low … that situation, the high quality firms commit when commitment decisions are kept secret, but some conditions on firms …

used as commitment devices when it is impossible to commit not to renegotiate them. We characterize renegotiation …

consecutive periods. We derive optimal sales strategies and analyze welfare effects with and without commitment. Under commitment … initial supplies and prices increase over time. Absent commitment, sellers can adjust their supply decision after the first … ambiguous. The larger firm typically prefers not to commit, whereas the smaller firm is better off under commitment. Commitment …

used as commitment devices when it is impossible to commit not to renegotiate them. We characterize renegotiation …

government commitment is credible than in the dynamically consistent equilibrium without commitment. Commitment yields gains but …

strategies. Without government commitment, there is an additional basis for intervention, whose sign depends on the strategic …