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- W2000274076 abstract "Past work has shown that asymmetric information and asymmetric ownership affect the possibility of efficient dissolution of partnerships. We show that textit{control} is also a central determinant of the possibility of efficient implementation. We demonstrate this point by analyzing a benchmark case of asymmetric control, where a single partner exercises complete control under the status quo partnership. We show that two-person partnerships cannot be dissolved efficiently with any incentive compatible, individually rational mechanism, regardless of the ownership structure, but that this impossibility result can be reversed if the number of partners is sufficiently large. Among other results, we show also that equal-shares partnerships are not generally the easiest to dissolve." @default.
- W2000274076 created "2016-06-24" @default.
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- W2000274076 date "2005-01-01" @default.
- W2000274076 modified "2023-09-26" @default.
- W2000274076 title "Efficient Dissolution of Partnerships and the Structure of Control" @default.
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- W2000274076 doi "https://doi.org/10.2139/ssrn.589421" @default.
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