Advances in Mathematical Economics

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Exploring asymmetric information's impact on resource allocation, this book delves into the evolution of economic research beyond traditional principal-agent frameworks. It highlights recent analyses of incomplete information where decision-makers engage in cooperative strategy discussions. Key contributions from various scholars are examined, showcasing advancements in Bayesian incentive compatibility, information revelation, and specific models like Chandler's multidivisional firm. The emphasis is on collaborative mechanism design and contract execution among all players involved.