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Full-Text Articles in Business
International Boom In Services Trade, Karl P. Sauvant
International Boom In Services Trade, Karl P. Sauvant
Karl P. Sauvant
Karl P. Sauvant, “International Boom in Services Trade”, World Chronicle, a half-hour unedited interview programme of the UN about major global issues, 5 March 1987; transcript pp. 2-13.
The History Of Advertising Archives: The Confessions Of A Pac-Rat, Richard W. Pollay
The History Of Advertising Archives: The Confessions Of A Pac-Rat, Richard W. Pollay
Richard W. Pollay
No abstract provided.
Dissolving A Partnership Efficiently, Peter Cramton, Robert Gibbons, Paul Klemperer
Dissolving A Partnership Efficiently, Peter Cramton, Robert Gibbons, Paul Klemperer
Peter Cramton
Several partners jointly own an asset that may be traded among them. Each partner has a valuation for the asset; the valuations are known privately and drawn independently from a common probability distribution. We characterize the set of all incentive-compatible and interim-individually-rational trading mechanisms, and give a simple necessary and sufficient condition for such mechanisms to dissolve the partnership ex post efficiently. A bidding game is constructed that achieves such dissolution whenever it is possible. Despite incomplete information about the valuation of the asset, a partnership can be dissolved ex post efficiently provided no single partner owns too large a …