Logo
Munich Personal RePEc Archive

Menu Auctions and Influence Games with Private Information

Martimort, David and Stole, Lars (2015): Menu Auctions and Influence Games with Private Information.

This is the latest version of this item.

[thumbnail of MPRA_paper_64970.pdf]
Preview
PDF
MPRA_paper_64970.pdf

Download (564kB) | Preview

Abstract

We study games in which multiple principals influence the choice of a privately-informed agent by offering action-contingent payments. We characterize the equilibrium allocation set as the maximizers of an endogenous aggregate virtual-surplus program. The aggregate maximand for every equilibrium includes an information-rent margin which captures the confluence of the principals’ rent-extraction motives. We illustrate the economic implications of this novel margin in two applications: a public goods game in which players incentivize a common public good supplier, and a lobbying game between conflicting interest groups who offer contributions to influence a common political decision-maker.

Available Versions of this Item

Atom RSS 1.0 RSS 2.0

Contact us: mpra@ub.uni-muenchen.de

This repository has been built using EPrints software.

MPRA is a RePEc service hosted by Logo of the University Library LMU Munich.