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http://ssrn.com/abstract=287118
 
 

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The Revelation and Delegation Principles in Common Agency Games


David Martimort


University of Toulouse 1 - Industrial Economic Institute (IDEI); CESifo (Center for Economic Studies and Ifo Institute)

Lars Stole


University of Chicago - Booth School of Business

October 2001

CESifo Working Paper Series No. 575

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.

Number of Pages in PDF File: 19

Keywords: Revelation Principle, Delegation Principle, Taxation Principle, Common Agency, Adverse Selection

JEL Classification: D82, L51

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Date posted: October 30, 2001  

Suggested Citation

Martimort, David and Stole, Lars, The Revelation and Delegation Principles in Common Agency Games (October 2001). CESifo Working Paper Series No. 575. Available at SSRN: http://ssrn.com/abstract=287118

Contact Information

David Martimort
University of Toulouse 1 - Industrial Economic Institute (IDEI) ( email )
Manufacture des Tabacs
21 Allee de Brienne bat. F
Toulouse Cedex, F-31000
France
+33 5 6112 8614 (Phone)
+33 5 6112 8637 (Fax)
CESifo (Center for Economic Studies and Ifo Institute)
Poschinger Str. 5
Munich, DE-81679
Germany
Lars A. Stole (Contact Author)
University of Chicago - Booth School of Business ( email )
5807 S. Woodlawn Avenue
Chicago, IL 60637
United States
773-702-7309 (Phone)
773-702-0458 (Fax)
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