Competing Mechanisms, Exclusive Clauses and the Revelation Principle
10 Pages Posted: 5 Jul 2011
Date Written: July 5, 2011
We consider multiple-principal multiple-agent games of incomplete information in which each agent can at most participate with one principal. In such contexts, we show that the restriction to direct truthful mechanisms involves a loss of generality, even if one only focuses on pure strategy equilibria. However, the traditional Revelation Principle retains its power in games with a single agent.
Keywords: Competing Mechanisms, Exclusivity
JEL Classification: D82
Suggested Citation: Suggested Citation