ダウンロード数: 276
タイトル: | Optimal Sharing Rules in Repeated Partnerships |
著者: | Kobayashi, Hajime Ohta, Katsunori Sekiguchi, Tadashi |
発行日: | Mar-2008 |
出版者: | Institute of Economic Research, Kyoto University |
誌名: | KIER Discussion Paper |
巻: | 650 |
抄録: | We study a simple model of repeated partnerships with noisy outcomes. Two partners first choose a sharing rule, under which they start their repeated interaction. We characterize the sharing rule which supports the most efficient equilibrium, and show that it suffices to consider two particular sharing rules. One is an asymmetric sharing rule, which induces only a more productive partner to work. It is optimal for impatient or less productive partners. The other treats them more evenly, and prevails for more productive and patient partners. Those results indicate how technological parameters and patience determine the role of a more productive partner. If the partners become more productive or more patient, the productive partner ceases to be a residual claimant and sacrifices his own share, in order to foster teamwork. |
URI: | http://hdl.handle.net/2433/129561 |
関連リンク: | http://ideas.repec.org/p/kyo/wpaper/650.html |
出現コレクション: | KIER Discussion Paper (英文版) |
このリポジトリに保管されているアイテムはすべて著作権により保護されています。