On multiple-principal multiple-agent models of moral hazard

In this note we show that the equilibrium characterized by Biais, Martimort and Rochet (Econometrica, 2000) could have been characterized by direct mechanisms even if the Revelation Principle does not apply in their setting. The use of more sophisticated mechanisms, such as menus, was not necessary.

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Year of publication:	2007
Authors:	Piaser, Gwenaël
Institutions:	Luxembourg School of Finance, Faculté de droit, d'économie et de finance
Subject:	Common Agency \| Revelation Principle \| Direct Mechanisms

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Extent:	application/pdf
Series:	LSF Research Working Paper Series.
Type of publication:	Book / Working Paper
Classification:	D82 - Asymmetric and Private Information
Source:	RePEc - Research Papers in Economics

Persistent link: https://ebvufind01.dmz1.zbw.eu/10005404520