The partnership form of business has become increasingly popular in the United States and may account for a significant portion of new business formation in the future. In spite of the growth of partnerships, there has been little formal analysis of their formation or behavior. In this article,...

Our analysis has incorporated important comparative strengths and weaknesses of public vs. private finance of collective goods. However, we have abstracted from other factors relevant to the comparison. For example, while allowing taxes to deviate from benefits, it was assumed that such taxes...