TY  - GEN
N2  - Two partners try to dissolve a partnership that owns an asset of ambiguous value, where the value is determined ex post by a draw from an Ellsberg urn. In a within-subject experiment, subjects make decisions in three different bargaining mechanisms: unstructured bargaining, the Texas shoot-out, and a K + 1 auction. We find that the K +1 auction is the most e¢ cient mechanism, which is in line with theory. Free format bargaining yields a surprising number of disagreements, which are not usually observed when the partnership has a certain or risky value.
EP  - 34
A1  - Oechssler, Jörg
A1  - Roomets, Alex
UR  - https://archiv.ub.uni-heidelberg.de/volltextserver/33829/
KW  - bargaining
KW  -  ambiguity
KW  -  experiment
ID  - heidok33829
CY  - Heidelberg
AV  - public
Y1  - 2023/09//
T3  - Discussion Paper Series / University of Heidelberg, Department of Economics
TI  - Dissolving an ambiguous partnership
ER  -