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Legal Hold-up in Cotenancy

Author

Listed:
  • Baucells Manel

    (University of Navarra and Duke University)

  • Lippman Steven A.

    (University of California, Los Angeles)

Abstract

Our analysis (Baucells and Lippman [2001]) of the problem of legal hold-up in co-ownership, in which legal partition is the only remedy to force a sale, proceeded as if a sale of the asset could be effected at any time at a fixed price if the cotenants agree. Here we utilize the more realistic assumption that potential buyers appear intermittently (in accord with a Poisson process and that the price offered is drawn from a specified distribution).

Suggested Citation

  • Baucells Manel & Lippman Steven A., 2003. "Legal Hold-up in Cotenancy," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 3(1), pages 1-33, June.
    • Handle: RePEc:bpj:bejeap:v:topics.3:y:2003:i:1:n:8
    DOI: 10.2202/1538-0653.1114
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    Cited by:

    1. Manel Baucells & Steven A. Lippman, 2004. "Bargaining with Search as an Outside Option: The Impact of the Buyer's Future Availability," Decision Analysis, INFORMS, vol. 1(4), pages 235-249, December.

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