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Dissolving an ambiguous partnership

Author

Listed:
  • Oechssler, Jörg
  • Roomets, Alex

Abstract

Two partners try to dissolve a partnership that owns an asset of ambiguous value, where the value is determined ex post by a draw from an Ellsberg urn. In a within-subject experiment, subjects make decisions in three different bargaining mechanisms: unstructured bargaining, the Texas shoot-out, and a K+1 auction. We find that the K+1 auction is the most efficient mechanism, which is in line with theory. Free format bargaining yields a surprising number of disagreements, which are not usually observed when the partnership has a certain or risky value.

Suggested Citation

  • Oechssler, Jörg & Roomets, Alex, 2026. "Dissolving an ambiguous partnership," Journal of Economic Behavior & Organization, Elsevier, vol. 243(C).
    • Handle: RePEc:eee:jeborg:v:243:y:2026:i:c:s0167268126000417
    DOI: 10.1016/j.jebo.2026.107453
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    JEL classification:

    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances; Revolutions

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