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On surplus sharing in partnerships
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Kibris, Arzu and Kibris, Özgür (2016) On surplus sharing in partnerships. Social Choice and Welfare, 47 (1). pp. 89-111. doi:10.1007/s00355-015-0947-7 ISSN 0176-1714.
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Official URL: https://doi.org/10.1007/s00355-015-0947-7
Abstract
For investment or professional service partnerships (in general, for partnerships where measures of the partners’ contributions are available), we consider a family of partnership agreements commonly used in real life. They allocate a fixed fraction of the surplus equally and the remains, proportional to contributions; and they allow this fraction to depend on whether the surplus is positive or negative. We analyze the implications of such partnership agreements on (i) whether the partnership forms in the first place, and if it does, (ii) the partners’ contributions as well as (iii) their welfare. We then inquire which partnership agreements are productively efficient (i.e. maximizes the partners’ total contributions) and which are socially efficient, (i.e. maximizes the partners’ social welfare as formulated by the two seminal measures of egalitarianism and utilitarianism).
| Item Type: | Journal Article | ||||||||
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| Subjects: | H Social Sciences > HB Economic Theory | ||||||||
| Divisions: | Faculty of Social Sciences > Economics Faculty of Social Sciences > Politics and International Studies |
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| Library of Congress Subject Headings (LCSH): | Welfare economics, Equality, Utilitarianism -- Mathematical models | ||||||||
| Journal or Publication Title: | Social Choice and Welfare | ||||||||
| Publisher: | Springer | ||||||||
| ISSN: | 0176-1714 | ||||||||
| Official Date: | June 2016 | ||||||||
| Dates: |
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| Volume: | 47 | ||||||||
| Number: | 1 | ||||||||
| Page Range: | pp. 89-111 | ||||||||
| DOI: | 10.1007/s00355-015-0947-7 | ||||||||
| Status: | Peer Reviewed | ||||||||
| Publication Status: | Published | ||||||||
| Reuse Statement (publisher, data, author rights): | This is a post-peer-review, pre-copyedit version of an article published in Social Choice and Welfare. The final authenticated version is available online at: http://dx.doi.org/10.1007/s00355-015-0947-7 | ||||||||
| Access rights to Published version: | Restricted or Subscription Access | ||||||||
| Date of first compliant deposit: | 18 March 2019 | ||||||||
| Date of first compliant Open Access: | 25 March 2019 | ||||||||
| RIOXX Funder/Project Grant: |
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