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| Tekijä: | Lülfesmann, C. |
| Otsikko: | Team production, sequential investments, and stochastic payoffs |
| Lehti: | Journal of Institutional and Theoretical Economics
2001 : SEP, VOL. 157:3, p. 430-442 |
| Asiasana: | INVESTMENT STOCHASTIC PROCESSES |
| Vapaa asiasana: | TEAM PRODUCTION |
| Kieli: | eng |
| Tiivistelmä: | This paper investigates a team production problem where two parties invest sequentially to generate a joint surplus. The authors find that the first best can be implemented even if the investment return is highly uncertain. |
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