000269362 001__ 269362
000269362 005__ 20210122080852.0
000269362 0247_ $$2doi$$a10.22004/ag.econ.269362
000269362 037__ $$a2068-2018-1322
000269362 041__ $$aeng
000269362 245__ $$aThree Principles of Competitive Nonlinear Pricing
000269362 260__ $$c2002
000269362 269__ $$a2002-06-06
000269362 300__ $$a51
000269362 336__ $$aWorking or Discussion Paper
000269362 520__ $$aWe make three contributions to the theory of contracting under asymmetric information. First, we establish a competitive analog to the revelation principle which we call the implementation principle. This principle provides a complete characterization of all incentive compatible, indirect contracting mechanisms in terms of contract catalogs (or menus), and allows us to conclude that in competitive contracting situations, …rms in choosing their contracting strategies can restrict attention, without loss of generality, to contract catalogs. Second, we establish a competitive taxation principle. This principle, a re…nement of the implementation principle, provides a complete characterization of all implementable nonlinear pricing schedules in terms of product-price catalogs and allows us to reduce any game played over nonlinear pricing schedules to a strategically equivalent game played over product-price catalogs. Third, applying the notion of payo¤ security (Reny (1999)) and the competitive taxation principle, we demonstrate the existence of a Nash equilibrium for the mixed extension of the nonlinear pricing game. Moreover, we identify a large class of competitive nonlinear pricing games whose mixed extensions satisfy payo¤ security. This paper extends earlier work by the first author (see Page (1992, 1999)).
000269362 546__ $$aEnglish
000269362 650__ $$aAgricultural and Food Policy
000269362 650__ $$aDemand and Price Analysis
000269362 650__ $$aFinancial Economics
000269362 6531_ $$acompetitive nonlinear pricing
000269362 6531_ $$adelegation principle
000269362 6531_ $$aimplementation principle
000269362 6531_ $$acompetitive taxation principle
000269362 6531_ $$aNash equilibria for discontinuous games
000269362 700__ $$aPage, Frank H., Jr.
000269362 700__ $$aMonteiro, Paulo K.
000269362 8560_ $$fweidm015@umn.edu
000269362 8564_ $$9aae7a317-5263-4063-90e5-0a3cb4007412$$s457179$$uhttps://ageconsearch.umn.edu/record/269362/files/twerp592a.pdf
000269362 8564_ $$915bc2772-b14a-438a-8c50-1899698875dd$$xpdfa$$s1741033$$uhttps://ageconsearch.umn.edu/record/269362/files/twerp592a.pdf?subformat=pdfa
000269362 909CO $$ooai:ageconsearch.umn.edu:269362$$pGLOBAL_SET
000269362 913__ $$aBy depositing this Content ('Content') in AgEcon Search, I agree that  I am solely responsible for any consequences of uploading this Content to AgEcon Search and making it publicly available, and I represent and warrant that: I am either the sole creator and the owner of the copyrights and all other rights in the Content; or, without obtaining another’s permission, I have the right to deposit the Content in an archive such as AgEcon Search. To the extent that any portions of the Content are not my own creation, they are used with the copyright holder’s express permission or as permitted by law. Additionally, the Content does not infringe the copyrights or other intellectual property rights of another, nor does the Content violate any laws or another’s rights of privacy or publicity. The Content contains no restricted, private, confidential, or otherwise protected data or information that should not be publicly shared. I understand that AgEcon Search will do its best to provide perpetual access to my Content. In order to support these efforts, I grant the Regents of the University of Minnesota ('University'), through AgEcon Search, the following non-exclusive, irrevocable, royalty-free, world-wide rights and licenses: to access, reproduce, distribute and publicly display the Content, in whole or in part, in order to secure, preserve and make it publicly available, and to make derivative works based upon the Content in order to migrate the Content to other media or formats, or to preserve its public access. These terms do not transfer ownership of the copyright(s) in the Content. These terms only grant to the University the limited license outlined above.
000269362 980__ $$a2068