Legal Hold-up in Cotenancy
Our analysis (Baucells and Lippman ) of the problem of legal hold-up in co-ownership, in which legal partition is the only remedy to force a sale, proceeded as if a sale of the asset could be effected at any time at a fixed price if the cotenants agree. Here we utilize the more realistic assumption that potential buyers appear intermittently (in accord with a Poisson process and that the price offered is drawn from a specified distribution).
Volume (Year): 3 (2003)
Issue (Month): 1 (June)
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