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This paper characterizes the equilibrium sets of an intrinsic common agency game with discrete types and direct revelation mechanisms. After presenting a general algorithm to find the pure -strategy equilibria of this game, we use it to characterize these equilibria when the two principals...
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This paper characterizes the equilibrium sets of an intrinsic common agencygame with discrete types and direct revelation mechanisms. After presentinga general algorithm to find the pure-strategy equilibria of this game, we use itto characterize these equilibria when the two principals control...
Persistent link: https://www.econbiz.de/10011400396
Persistent link: https://www.econbiz.de/10009389803
The assumption that firms maximize profit has been widely used in Economics to explain firms' behaviors and market outcomes. But the profit maximization assumption may lead to incorrect predictions when firms engage in strategic delegation between owners and managers who might have different...
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