Agency equilibrium (Q2183990)
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scientific article
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | Agency equilibrium |
scientific article |
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Agency equilibrium (English)
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27 May 2020
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Summary: Agency may be exercised by different entities (e.g., individuals, firms, households). A given individual can form part of multiple agents (e.g., he may belong to a firm and a household). The set of agents that act in a given situation might not be common knowledge. We adapt the standard model of incomplete information to model such situations.
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agency
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equilibrium
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individualism
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collectivism
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