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Persistent link: https://www.econbiz.de/10003996940
This paper considers games in which multiple principals contract simultaneously with the same agent. We introduce a new class of revelation mechanisms that, although it does not always permit a complete equilibrium characterization, it facilitates the characterization of the equilibrium outcomes...
Persistent link: https://www.econbiz.de/10003860805
This paper considers games in which multiple principals contract simultaneously and noncooperatively with the same agent. We introduce a new class of revelation mechanisms which, although they do not always permit a complete equilibrium characterization, do facilitate the characterization of the...
Persistent link: https://www.econbiz.de/10012759785
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...
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We study international trade of innovative goods subject to scientific uncertainty on consumers' health effects. Trade of these goods is often at the centre of international disputes. We show that a new trade protectionism may arise because of the scientific uncertainty. A free riding effect is...
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Multinational enterprises (MNEs) have started to populate also regulated sectors. Their linked international activities and credible threats to relocate are then new concerns for regulators. We study a multiprincipal model in which a privately informed MNE (the agent) produces for two countries...
Persistent link: https://www.econbiz.de/10014172847