Brooks, Richard R. W.; Landeo, Claudia M.; Spier, Kathryn E. - In: RAND Journal of Economics 41 (2010) 4, pp. 649-673
The operating agreements of many business ventures include clauses to facilitate the exit of joint owners. In so-called Texas Shootouts, one owner names a single buy-sell price and the other owner is compelled to either buy or sell shares at that named price. Despite their prevalence in...