Econometrica Vol. 70 No. 4 2002
The Revelation and Delegation Principles in Common Agency Games
Abstract
In the context of common agency adverse-selection games we illustrate that the revelation principle cannot be applied to study equilibria of the multi-principal games. We then demonstrate that an extension of the taxation principle - what we term the delegation principle - can be used to characterize the set of all common agency equilibria.
- DOI
- 10.1111/1468-0262.t01-1-00345
- Volume
- 70
- Issue
- 4
- Pages
- 1659-1673
- Language
- en
- Sources
- bibtex:phds-export.bib semanticscholar crossref openalex