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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Paper provided by Department of Economics, University of Birmingham in its series Discussion Papers with number
97-16.
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
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