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This paper considers dynamic games in which multiple principals contract sequentially and non-cooperatively with the same agent and provides characterization results useful for applications. Our benchmark model is one of private contracting in which downstream principals do not observe upstream...
Persistent link: https://www.econbiz.de/10005498138
We illustrate, by means of two examples, why assuming the principals offer simple menus (i.e. collections of payoff-relevant alternatives) as opposed to more general mechanisms may preclude a complete characterization of the set of equilibrium outcomes in certain sequential contracting...
Persistent link: https://www.econbiz.de/10005413931
We examine the intricacies associated with the design of revenue-maximizing mechanisms for a monopolist who expects her buyers to resell. We consider two cases: resale to a third party who does not participate in the primary market and interbidder resale, where the winner resells to the losers....
Persistent link: https://www.econbiz.de/10005551352
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We consider games of incomplete information where a common agent sequentially interacts with two principals. In this setting we show that the Revelation Principle applies: there is no loss of generality in assuming that the two principals restrict attention to direct revelation mechanisms. This...
Persistent link: https://www.econbiz.de/10005129715
This paper considers dynamic games in which multiple principals contract sequentially and non-cooperatively with the same agent. We first show that when contracting is private, i.e. when downstream principals do not observe the mechanisms offered upstream and the decisions taken in these...
Persistent link: https://www.econbiz.de/10005146134
Persistent link: https://www.econbiz.de/10010542524
We introduce new revelation mechanisms for simultaneous common agency games which, although they do not always permit a complete equilibrium characterization, do facilitate the characterization of the equilibrium outcomes that are typically of interest in applications. We then show how these...
Persistent link: https://www.econbiz.de/10008595857
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