Pure Strategies and No Externalities with Multiple Agents

This note considers two properties of common agency models - pure strategy equilibria with simple competition are robust and equilibria in mechanisms can be reproduced as equilibria with simple competition provided an appropriate no-externalities assumption holds. This note provides counter examples to both these theorems when there are multiple agents.

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Year of publication:	2003-12-17
Authors:	Peters, Michael
Institutions:	Vancouver School of Economics

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Extent:	application/pdf
Series:	Microeconomics.ca working papers.
Type of publication:	Book / Working Paper
Notes:	0 pages
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10004975579