Uncertainty in Partnerships
AbstractIn 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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Bibliographic InfoPaper provided by Department of Economics, University of Birmingham in its series Discussion Papers with number 97-16.
Length: 30 pages
Date of creation: 1997
Date of revision:
PRODUCTION ; INFORMATION;
Find related papers by JEL classification:
- D20 - Microeconomics - - Production and Organizations - - - General
- D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
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- Rigotti, L. & Ryan, M. & Vaithianathan, R., 2001.
2001-21, Tilburg University, Center for Economic Research.
- Luca Rigotti & Matthew Ryan & Rhema Vaithianathan, 2001. "Entrepreneurial Innovation," GE, Growth, Math methods 0103002, EconWPA.
- Luca Rigotti, Matthew Ryan and Rhema Vaithianathan., 2001. "Entrepreneurial Innovation," Economics Working Papers E01-296Rev, University of California at Berkeley.
- Rigotti, Luca & Ryan, Matthew & Vaithianathan, Rema, 2001. "Entrepreneurial Innovation," Department of Economics, Working Paper Series qt508109h4, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
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