We address the following basic question: How should parties, with possibly different risk-attitudes and beliefs, who are contemplating creating a partnership, divide uncertain future profits? We assume that the formula for division of profits is a result of negotiations, and model it via the Nash-bargaining-like solution (NBLS). After characterizing the optimal contract, using calculus of variations, we assume a linear contract and find its optimal parameters for various cases of interest. We also consider the implications of an asymmetric NBLS.

中文翻译：

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对不确定的未来利润进行讨价还价

我们解决以下基本问题：正在考虑建立合伙关系的具有不同风险态度和信念的各方应如何划分不确定的未来利润？我们假设利润分配的公式是谈判的结果，并通过类似于纳什讨价还价解决方案（NBLS）对其进行建模。在描述最优合同之后，使用变分法，我们假设一个线性合同，并针对各种关注情况找到其最优参数。我们还考虑了非对称NBLS的含义。