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We consider multiple-principal multiple-agent games of incomplete information. In this context, we identify a class of direct and incentive compatible mechanisms: each principal privately recommends to each agent to reveal her private information to the other principals, and each agent behaves...
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We study competing-mechanism games under exclusive competition: principals first simultaneously post mechanisms, then agents simultaneously choose to participate and communicate with at most one principal. In this setting, which is common to competing-auction and competitive-search applications,...
Persistent link: https://www.econbiz.de/10014105878
We consider multiple-principal multiple-agent models of moral hazard: Principals compete through mechanisms in the presence of agents who take unobservable actions. In this context, we provide a rationale for restricting principals to make use of simple mechanisms, which correspond to direct...
Persistent link: https://www.econbiz.de/10013123960
We study competing mechanism games in which principals simultaneously design contracts to deal with several agents. We show that principals can profit from privately communicating with agents by generating incomplete information in the continuation game they play. Specifically, we construct an...
Persistent link: https://www.econbiz.de/10012941207
This paper examines the role of direct mechanisms in common agency games. We focus on pure strategies and deterministic contracts and show how the introduction of a separability condition on the preferences of the agent is sufficient for the Revelation Principle to hold in in this setting, when...
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