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http://hdl.handle.net/20.500.11861/8663
Title: | Cost-saving joint venture under uncertainty |
Authors: | Prof. YEUNG Wing Kay, David Petrosyan, Leon A. |
Issue Date: | 2012 |
Source: | In Yeung, David W. K. & Petrosyan, Leon A. (2012). Subgame consistent economic optimization: An advanced cooperative dynamic game analysis (pp. 239-270). Birkhauser. |
Abstract: | In this chapter, we consider a cost-saving joint venture in the presence of stochastic elements. Section 9.1 formulates a dynamic cost-saving corporate joint venture in a stochastic environment and characterizes its subgame consistent solutions. An explicitly solvable illustration is given in Sect. 9.2. A characterization of the Shapley Value solution to a stochastic cost-saving joint venture is presented in Sect. 9.3 and a payoff distribution procedure leading to a subgame consistent solution is computed. Extensions to infinite-horizon ventures are formulated with explicit illustrations in the subsequent two sections. |
Type: | Book Chapter |
URI: | http://hdl.handle.net/20.500.11861/8663 |
ISBN: | 978-0-8176-8261-3 978-0-8176-8262-0 |
DOI: | 10.1007/978-0-8176-8262-0_9 |
Appears in Collections: | Economics and Finance - Publication |
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