Implementation without commitment in moral hazard environments
Computer Science and Game Theory
2013-09-18 v2
Abstract
Interdependent-choice equilibrium is defined as an extension of correlated equilibrium in which the mediator is able to choose the timing of her signals, and observe the actions taken by the players. The set of interdependent-choice equilibria is a nonempty, closed and convex polytope. It characterizes all the outcomes that can be implemented in single shot interactions without repetition, side payments, binding contracts or any other form of delegation.
Cite
@article{arxiv.1303.0916,
title = {Implementation without commitment in moral hazard environments},
author = {Bruno Salcedo},
journal= {arXiv preprint arXiv:1303.0916},
year = {2013}
}