Jean-Jacques Laffont, Tchétché N'Guessan
Group Contracting and Enforcement
Section: Articles
Published 09.07.2018
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- article PDF
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- 10.1628/0932456012974549
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We consider a principal-multiagent framework with adverse selection when contracting is possible ex ante. However, enforcement of contracts is imperfect, which results in inefficiencies. We study how group contracting may or may not mitigate those inefficiencies.