Arbeitspapier

Non-intrinsic common agency

In this paper we analyse a common agency model in which agents can choose with how many principals they want to work, while principals cannot condition contracts on the agent's decision to accept other contracts. In this case of "non-intrinsic" common agency we characterise the equilibrium. Unless the substitutability between the two outputs is very strong, optimality conditions for principals' contracts are the same as with intrinsic common agency. However, principals suffer from reciprocal competition, which with "moderate" substitutability increases the informational rent agents obtain in equilibrium.

Sprache
Englisch

Erschienen in
Series: Nota di Lavoro ; No. 84.1999

Klassifikation
Wirtschaft
Transactional Relationships; Contracts and Reputation; Networks
Monopolization; Horizontal Anticompetitive Practices
Asymmetric and Private Information; Mechanism Design
Thema
Prinzipal-Agent-Theorie
Theorie

Ereignis
Geistige Schöpfung
(wer)
Calzolari, Giacomo
Scarpa, Carlo
Ereignis
Veröffentlichung
(wer)
Fondazione Eni Enrico Mattei (FEEM)
(wo)
Milano
(wann)
1999

Handle
Letzte Aktualisierung
10.03.2025, 11:42 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Calzolari, Giacomo
  • Scarpa, Carlo
  • Fondazione Eni Enrico Mattei (FEEM)

Entstanden

  • 1999

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