Texas shootoutcommon valuesbargaining failureThe operating agreements of many business ventures include clauses to facilitate the exit of joint owners. In so-called Texas Shootouts, one owner names a single buy-sell price and the other owner is compelled to either buy or sell shares at that ...
Socrates: ‘It is not the same as courage and wisdom. Each of those was located in a particular part, and yet one of them made the whole city wise, and the other made it brave. Self-discipline does not operate in the same way. It extends literally throughout the entire city, over t...
In a Texas Shootout, one partner names a single buy-sell price and the other partner has the option to buy or sell at that price. While the prior literature has considered the allocative efficiency of the Texas Shootout, this paper focuses on the incentives of private parties to make ...