A theory of joint venture life-cycles |
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| Affiliation: | 1. Jadavpur University, Jadavpur, India;2. CSDILE, School of International Studies (SIS), Jawaharlal Nehru University (JNU), New Delhi, 110067, India;1. Department of Mechanical Engineering, National Institute of Technology, Raipur, India;2. Department of Mechanical Engineering, Indian Institute of Technology, Patna, India;3. Department of Mechanical Engineering, University of Saskatchewan, Canada;1. Economics and Planning Unit, Indian Statistical Institute, 7, SJS Sansanwal Marg, New Delhi 110016, India;2. Institute of Social and Economic Research, Osaka University, Japan;3. Economics Research Unit, Indian Statistical Institute, Kolkata, India;1. Division of Diabetes, Endocrinology and Metabolism, Kawasaki Medical School, 577 Matsushima, Kurashiki-city, Okayama 701-0192, Japan;2. Division of Diabetes and Endocrinology, Yodogawa Christian Hospital, Osaka, Japan;3. Department of General Internal Medicine 1, Kawasaki Hospital, Kawasaki Medical School, Okayama, Japan |
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| Abstract: | In this paper we provide a dynamic theory of joint venture life cycle that relies on synergy, organisational learning and moral hazard. We demonstrate that depending on parameter values the outcome may involve any one of the following: stable joint venture formation, joint venture formation followed by breakdown, or Cournot competition in all the periods. We also provide some interesting welfare results. |
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