Abstract：
Succession game is a new concept and it pays close attention to how the incumbent decides to leave some contribution to his successor. There is an equilibrium strategy that the ratio of the left contribution to the total personal contribution is a constant in the succession games of enterprises, but it is different to the condition of maximizing the total output, which provides new explanations to the difference in personal effort, shortsightedness, and lack of altruism. When the participant exists only one term, different participants will leave different amount of output, and the Bayesian equilibrium strategy may exist. In family business succession games, the utility function of participants will change with the genetic relationship and leads the participants to lower the request for the ability of successors. It will cause incompetent successors lacking the motivation for improving productivity.
2011 
