Ambiguity in Partnerships

David Kelsey and Willy Spanjers

Economic Journal, 2004, vol. 114, issue 497, 528-546

Abstract: The consequences of ambiguity for partnerships are addressed. Partnerships with symmetric linear production functions are analysed in a Choquet Expected Utility (CEU)-framework. Nash equilibrium in pure strategies is extended to CEU-games. A class of sharing rules are proposed that make constructive use of strategic ambiguity in partnerships. Results on "ex ante" efficiency and "ex post" efficiency of the outcomes are presented. Copyright 2004 Royal Economic Society.

Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:ecj:econjl:v:114:y:2004:i:497:p:528-546

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