Partnerships are the prevalent organizational form in many industries. Most partnerships share profits equally among …

Partnerships are the prevalent organizational form in many industries. Most partnerships share profits equally among …

Partnerships are the prevalent organizational form in many industries. Profits are most frequently shared equally among …-averse partners the equal sharing rule is the unique sharing rule that maximizes the partners' incentives to exert effort. We further … show that inequity aversion can enhance efficiency in partnerships of given size, but that it can also cause partnerships …

We compare the costs and benefits of profit-sharing partnerships relative to the corporate form of organization. We … to observe. The theory explains the relative scarcity of partnerships outside of professional service industries such as … of partnerships such as up-or-out promotion systems, the use of non-compete clauses, motives for profit sharing as well …

and the degree of meritocracy. In particular we show that, ceteris paribus, meritocratic systems give more incentives to …

and the degree of meritocracy. In particular we show that, ceteris paribus, meritocratic systems give more incentives to …