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| Akira Yamada |
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| ''Efficient equilibrium side contracts'' |
| ( 2003, Vol. 3 No.6 ) |
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| We analyze two-stage games where players may make binding offers of schemes for side payment acceptance (or rejection) as well as those for side payments before choosing actions. We find that any set of efficient actions maximizing the total payoff is played on an equilibrium path of the two-stage game when such bilateral contracts on side payments are interdependent. |
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| Manuscript Received : Mar 14 2003 | | Manuscript Accepted : Apr 07 2003 |
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