A General Framework for Multi-Person Decision-Making

Ursula F. Ott

Chapter 4 in International Joint Ventures, 2006, pp 63-82 from Palgrave Macmillan

Abstract: Abstract This chapter can be seen as the source for the next chapters. Notation, configuration, and mechanisms are explained and will be used in the adverse selection, moral hazard, signaling and endgame chapters to provide consistency throughout. Regarding an IJV as an international enterprise dealing with multi-person decision-making processes, the information structure between the parent firms and the management bodies is furthermore of special interest. How to handle a decision-making process? Is it a poker or chess situation? Which strategies do we and our counterparts use or how to reveal the hidden information? What about signals? As far as game theory provides solution concepts for bargaining situations, principal-agent relationships and other problems of multi-person decision-making, the application of this mathematical tool might be appropriate, although the formal level will be kept on a minimum in this part.

Keywords: Joint Venture; Adverse Selection; International Joint Venture; Common Agency; Host Government (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-62546-4_4

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DOI: 10.1057/9780230625464_4

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