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Título:
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Delegation and information sharing in oligopoly
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Autor/a:
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Theilen, Bernd
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Otros autores:
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Universitat Rovira i Virgili. Departament d'Economia |
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Abstract:
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Information sharing in oligopoly has been analyzed by assuming that firms behave as a sole economic agent. In this paper I assume that ownership and management are separated. Managers are allowed to falsely report their costs to owners and rivals. Under such circumstances, if owners want to achieve information sharing they must use managerial contracts that implement truthful cost reporting by managers as a dominant strategy. I show that, contrary to the classical result, without the inclusion of message-dependent payments in managerial contracts there will be no information sharing. On the other hand, with the inclusion of such publicly observable payments and credible ex-ante commitment by owners not to modify these payments, there will be perfect information sharing without the need for third parties. Keywords: Information sharing, Delegation, Managerial contracts. JEL classification numbers: D21, D82, L13, L21 |
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Fecha de creación:
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2004 |
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Materia(s):
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-Oligopolis
-Models economètrics |
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Derechos:
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Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/) |
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Tipo de documento:
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Documento de trabajo |
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Collection:
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Documents de treball del Departament d'Economia;2004-2
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