How to dissolve a partnership

Research output: Contribution to journalArticlepeer-review

Abstract

In a unified framework, we survey the recent literature on partnership dissolution with interdependent values. Contrary to the private-values case, where the main obstacle hindering the construction of efficient trading mechanisms is the asymmetry in initial endowments, we find that informational asymmetries play here a major role. For settings where the first-best cannot be achieved, we study incentive-efficient mechanisms or other well-performing simple mechanisms whose rules do not depend on the exact specification of the models' parameters.

Original languageEnglish
Pages (from-to)66-80
Number of pages15
JournalJournal of Institutional and Theoretical Economics
Volume158
Issue number1
DOIs
StatePublished - 2002
Externally publishedYes

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