We consider a random-matching model in which every agent has a categorization (partition) of his potential opponents. In equilibrium, the strategy of each player is a best response to the distribution of actions of his opponents in each category of his categorization. We provide equivalence...

This paper focuses on the delegation of bank managers of lending decisions to their agents typically subordinate employees of the bank. We assume that agents may base their decisions about lending to borrowers on decisions other banks have made about these same borrowers. Then we show that there...