Efficiency in partnerships
给出了合伙企业产出随机时维持效率的充要条件，并分析了有限责任下平均责任水平的重要性以及责任分配在满足中性或个体理性条件时的关键作用。
We provide the necessary and sufficient condition for a partnership to be able to sustain efficiency when the output is stochastic. When limited liability is imposed, we show that only the level of the average liability of the partnership is important; the individual levels of liability are irrelevant. However, the allocation of the total liability among the partners is crucial when additional conditions such as neutrality or individual rationality are imposed.