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| Tekijä: | Roth, D. |
| Otsikko: | A theory of partnership dynamics |
| Lehti: | Games and Economic Behavior
1995 : JAN, VOL. 12:1, p. 95-112 |
| Asiasana: | THEORIES GAMES ECONOMIC BEHAVIOUR |
| Kieli: | eng |
| Tiivistelmä: | This paper explores the benefits and drawbacks of potential partnership dissolution through an infinite- period, dynamic game-theoretic model of learning and endogenous dissolution. As partners learn about the quality of their partnership relative to their outside opportunities, the rents associated with the partnership change, effecting a related change in the strength of incentives to provide effort. Mild supermodality conditions lead to effort levels in the optimal equilibria which rise in the expected quality of the partnership. |
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