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文章基本信息

  • 标题:Direct Mechanisms, Menus and Latent Contracts
  • 本地全文:下载
  • 作者:Gwenaёl Piaser
  • 期刊名称:Modern Economy
  • 印刷版ISSN:2152-7245
  • 电子版ISSN:2152-7261
  • 出版年度:2010
  • 卷号:1
  • 期号:1
  • 页码:51-58
  • DOI:10.4236/me.2010.11005
  • 出版社:Scientific Research Publishing
  • 摘要:In common agency games, one cannot characterize all equilibria by considering only direct mechanisms. In an attempt to overcome this difficulty, Peters [1] and Martimort and Stole [2] identi?ed a class of indirect mechanisms (namely, menus) which are able to characterize every equilibrium. Unfortunately, menus are difficult to handle, and several methodologies have been proposed in the literature. Here, it is shown that, even if authors consider menus rather than simpler mechanisms, many equilibria described in the literature could have been characterized by direct incentive compatible mechanisms. Use of more sophisticated mechanisms was not necessary in these cases.
  • 关键词:Common Agency; Revelation Principle; Delegation Principle; Direct Mechanisms; Menus; Latent Contracts
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