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Asymmetric partnerships

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  • Figueroa, Nicolás
  • Skreta, Vasiliki

Abstract

We study asymmetric partnerships and show that efficient dissolution is possible if critical types (where participation constraints bind) are equal. Ownership structures guaranteeing equal critical types always exist, but can be extremely unequal.

Suggested Citation

  • Figueroa, Nicolás & Skreta, Vasiliki, 2012. "Asymmetric partnerships," Economics Letters, Elsevier, vol. 115(2), pages 268-271.
    • Handle: RePEc:eee:ecolet:v:115:y:2012:i:2:p:268-271
    DOI: 10.1016/j.econlet.2011.12.083
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    References listed on IDEAS

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    1. Krishna, Vijay, 2009. "Auction Theory," Elsevier Monographs, Elsevier, edition 2, number 9780123745071.
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    6. Makowski Louis & Mezzetti Claudio, 1993. "The Possibility of Efficient Mechanisms for Trading an Indivisible Object," Journal of Economic Theory, Elsevier, vol. 59(2), pages 451-465, April.
    7. William Vickrey, 1961. "Counterspeculation, Auctions, And Competitive Sealed Tenders," Journal of Finance, American Finance Association, vol. 16(1), pages 8-37, March.
    8. Roger B. Myerson, 1981. "Optimal Auction Design," Mathematics of Operations Research, INFORMS, vol. 6(1), pages 58-73, February.
    9. Schweizer, Urs, 2006. "Universal possibility and impossibility results," Games and Economic Behavior, Elsevier, vol. 57(1), pages 73-85, October.
    10. Groves, Theodore, 1973. "Incentives in Teams," Econometrica, Econometric Society, vol. 41(4), pages 617-631, July.
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    Cited by:

    1. Loertscher, Simon & Wasser, Cédric, 2019. "Optimal structure and dissolution of partnerships," Theoretical Economics, Econometric Society, vol. 14(3), July.
    2. Loertscher, Simon & Marx, Leslie M., 2020. "A dominant-strategy asset market mechanism," Games and Economic Behavior, Elsevier, vol. 120(C), pages 1-15.
    3. Ludwig Ensthaler & Thomas Giebe & Jianpei Li, 2014. "Speculative partnership dissolution with auctions," Review of Economic Design, Springer;Society for Economic Design, vol. 18(2), pages 127-150, June.
    4. Loertscher, Simon & Marx, Leslie M., 2020. "Digital monopolies: Privacy protection or price regulation?," International Journal of Industrial Organization, Elsevier, vol. 71(C).

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    More about this item

    Keywords

    Efficient mechanism design; Ownership structure; Partnerships;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation

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