Similar Search Results

Nöldeke, Georg - 2017

Conjugate duality relationships are pervasive in matching and implementation problems and provide much of the structure …. In the absence of quasilinearity, a more abstract duality relationship, known as a Galois connection, takes the role of … (generalized) conjugate duality. While much weaker, this duality relationship still induces substantial structure. We show that …

Persistent link: https://www.econbiz.de/10012944599

The Implementation Duality

Nöldeke, Georg - 2015

underlying implementation duality. We show how this duality can be used to obtain a sharpening of the taxation principle, to …

Persistent link: https://www.econbiz.de/10013026253

The Implementation Duality

Nöldeke, Georg - 2018

Conjugate duality relationships are pervasive in matching and implementation problems and provide much of the structure …. In the absence of quasilinearity, a more abstract duality relationship, known as a Galois connection, takes the role of … (generalized) conjugate duality. While weaker, this duality relationship still induces substantial structure. We show that this …

Persistent link: https://www.econbiz.de/10012922807

Dynamic Moral Hazard Without Commitment

Horner, Johannes - 2015

We study a discrete-time model of repeated moral hazard without commitment. In every period, a principal finances a project, choosing the scale of the project and a contingent payment plan for an agent, who has the opportunity to appropriate the returns of a successful project unbeknownst the...

Persistent link: https://www.econbiz.de/10013027917

Non-Exclusive Insurance with Free Entry : A Pedagogical Note

Dubey, Pradeep K. - 2019

We consider the Rothschild-Stiglitz model of insurance but without the exclusivity constraint. It turns out that there always exists a unique equilibrium, in which the reliable and unreliable consumers take out a primary insurance up to its quantity limit, and the unreliable take out further...

Persistent link: https://www.econbiz.de/10012892349

Mechanism Design with Limited Information : The Case of Nonlinear Pricing

Bergemann, Dirk - 2010

We analyze the canonical nonlinear pricing model with limited information. A seller offers a menu with a finite number of choices to a continuum of buyers with a continuum of possible valuations. By revealing an underlying connection to quantization theory, we derive the optimal finite menu for...

Persistent link: https://www.econbiz.de/10013135503

Relational Contracts with Subjective Peer Evaluations

Deb, Joyee - 2015

We study optimal contracting in a setting where a firm repeatedly interacts with multiple workers, and can compensate them based on publicly available performance signals as well as privately reported peer evaluations. If the evaluation and the effort provision are done by different workers (as...

Persistent link: https://www.econbiz.de/10013025571

The Role of Commitment in Bilateral Trade

Gerardi, Dino - 2010

We examine the buyer-seller problem under different levels of commitment. The seller is informed of the quality of the good, which affects both his cost and the buyer's valuation, but the buyer is not. We characterize the allocations that can be achieved through mechanisms in which, unlike with...

Persistent link: https://www.econbiz.de/10013143583

The Role of Commitment in Bilateral Trade

Gerardi, Dino - 2013

This paper solves for the set of equilibrium payoffs in bargaining with interdependent values when the informed party makes all offers, as discounting vanishes. The seller of a good is informed of its quality, which affects both his cost and the buyer's valuation, but the buyer is not. To...

Persistent link: https://www.econbiz.de/10013075180

Uniqueness and Stability of Equilibrium in Economies with Two Goods

Geanakoplos, John - 2016

We offer new sufficient conditions ensuring demand is downward sloping local to equilibrium. It follows that equilibrium is unique and stable in the sense that rising supply implies falling prices. In our setting, there are two goods, which we interpret as consumption in different time periods,...

Persistent link: https://www.econbiz.de/10012984614