Optimal structure and dissolution of partnerships
研究了在一般类型分布和相互依赖价值下，合伙解散的最优机制，该机制能最大化收入和社会剩余的任意凸组合，并分析了最优所有权结构。
For a partnership model with general type distributions and interdependent values, we derive the optimal dissolution mechanisms that, for arbitrary initial ownership, maximize any convex combination of revenue and social surplus. The solution involves ironing around typically interior worst‐off types, which are endogenously determined. The optimal ownership structures are such that, with identical distributions, equal shares are always optimal. With nonidentical distributions, the optimal shares are typically asymmetric, the identity of the agents with large shares may change with the importance of revenue generation, and even fully concentrated initial ownership and assigning zero shares to the strongest agents can be optimal.