...
  • 主题
高级搜索  >
历史搜索 清空历史
首页> 外文期刊>International game theory review >Partnership's Profit Sharing: Linear and Nonlinear Contracts
【24h】

Partnership's Profit Sharing: Linear and Nonlinear Contracts

机译：伙伴关系的利润分享：线性和非线性合同

获取原文
获取原文并翻译 | 示例
           
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

Suppose that one party proposes to another a contract for sharing an uncertain profit which maximizes the former's expected utility, with respect to its beliefs, subject to a constraint on the latter's expected utility, with respect to the latter's beliefs. It turns out that the optimal contract, which we find, can be nonmonotone, as well as nonlinear, in the realized profit. To avoid the implausible lack of monotonicity, we formulate and solve a model constrained to have monotone increasing profits for both partners. If beliefs are identical, the (unconstrained) contract is shown to be monotone, and under certain conditions, linear. That might explain one famous contract from the history of jazz. If the other party can be assumed risk neutral, the linear contract reduces to the former receiving a constant amount, and the latter the residual net profit, as in the case of another famous contract from the history of jazz. Since in the type of partnerships, we have in mind the partners are always motivated to exert high effort due to other factors like reputation, our setting has no moral hazard or adverse selection, and the partnerships do not involve a large initial investment.
机译：假设一方向另一项缔约方提出了一份合同，以分享不确定的利润，这使得前者的预期效用最大化，而在其对后者的预期效用的限制的情况下，关于后者的信仰，这是对后者的限制。事实证明，我们发现的最佳合同可以是非单调的，以及非线性，在实现的利润中。为避免令人难以置信的缺乏单调性，我们制定并解决约束的模型，以便为两个伴侣提供单调的利润。如果信仰是相同的，则（无约会）合同被显示为单调，在某些条件下线性。这可能解释了爵士历史上的一个着名合同。如果另一方可以假设风险中立，则线性合同减少到前者收到持续金额，后者剩余净利润，如其他着名合同的爵士乐史上。由于在伙伴关系的类型以来，我们记得伙伴始终有动力施加高度努力，因为其他因素等等，我们的环境没有道德危害或不利选择，伙伴关系不涉及大型初步投资。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号