Uncertainty in Partnerships.

In this paper we analyse the consequences of Knightian uncertainty for partnerships with symmetric linear production functions are analysed in a CEU framework. We propose an extension of Nash equilibrium in pure strategies for CEU-games with strategic uncertainty. We find that the presence of uncertainty does not change equilibrium choices of effort levels of partnerships with a linear sharing rule.

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Year of publication:	1997
Authors:	Kelsey, D. ; Spanjeres, W.
Institutions:	Department of Economics, University of Birmingham
Subject:	PRODUCTION \| INFORMATION

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Series:	Discussion Papers.
Type of publication:	Book / Working Paper
Notes:	30 pages
Classification:	D20 - Production and Organizations. General ; D23 - Organizational Behavior; Transaction Costs; Property Rights ; D81 - Criteria for Decision-Making under Risk and Uncertainty ; D82 - Asymmetric and Private Information
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005357594