Abstract

http://ssrn.com/abstract=2282204
 


 



Shotgun Mechanisms for Common-Value Partnerships: The Unassigned-Offeror Problem


Claudia M. Landeo


University of Alberta - Department of Economics

Kathryn E. Spier


Harvard University - Law School - Faculty; National Bureau of Economic Research (NBER)

September 20, 2013

Economics Letters, Forthcoming

Abstract:     
Shotguns clauses are commonly included in the business agreements of partnerships and limited liability companies (LLCs), but the role of offeror typically remains unassigned. In a common-value, one-sided asymmetric information setting, unfair and inefficient outcomes occur with an unassigned offeror. Experimental results are aligned with our theory.

Number of Pages in PDF File: 31

Keywords: Business Deadlock, Shotgun Mechanisms, Asymmetric Information, Experiments

JEL Classification: K40, C72, C90, D82

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Date posted: June 21, 2013 ; Last revised: September 20, 2013

Suggested Citation

Landeo, Claudia M. and Spier, Kathryn E., Shotgun Mechanisms for Common-Value Partnerships: The Unassigned-Offeror Problem (September 20, 2013). Economics Letters, Forthcoming. Available at SSRN: http://ssrn.com/abstract=2282204 or http://dx.doi.org/10.2139/ssrn.2282204

Contact Information

Claudia M. Landeo
University of Alberta - Department of Economics ( email )
Edmonton, Alberta T6G 2H4
Canada
HOME PAGE: http://www.arts.ualberta.ca/~econweb/landeo/
Kathryn E. Spier (Contact Author)
Harvard University - Law School - Faculty ( email )
1575 Massachusetts
Hauser 302
Cambridge, MA 02138
United States
(617) 496-0019 (Phone)
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
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