Team Formation in a Network
Two project leaders (or entrepreneurs) in a network, which captures social relations, recruit players in a strategic, competitive and time-limited process. Each team has an optimal size depending on the project’s quality. This is a random variable with a commonly known distribution. Only the corresponding project leader observes its realization. Any decision is only observed by the involved agents. The set of pure strategy Sequential Equilibria is characterized by giving an algorithm that selects one equilibrium at a time. An agent’s expected payoff is related to his position in the network, though no centrality measure in the literature captures this relation. A social planner frequently would achieve a higher welfare.
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- Goyal, Sanjeev & Vega-Redondo, Fernando, 2007. "Structural holes in social networks," Journal of Economic Theory, Elsevier, vol. 137(1), pages 460-492, November.
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Discussion Papers Series, Department of Economics, Tufts University
0217, Department of Economics, Tufts University.
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- Boris F. Blumberg & Gerard A. Pfann, 2001.
"Social Capital and the Uncertainty Reduction of Self-Employment,"
0112, Harris School of Public Policy Studies, University of Chicago.
- Pfann, Gerard A. & Blumberg, Boris F., 2001. "Social Capital and the Uncertainty Reduction of Self-Employment," IZA Discussion Papers 303, Institute for the Study of Labor (IZA).
- Jeremy C. Stein, 2008.
"Conversations among Competitors,"
American Economic Review,
American Economic Association, vol. 98(5), pages 2150-2162, December.
- Venkatesh Bala & Sanjeev Goyal, 1998. "Learning from Neighbours," Review of Economic Studies, Oxford University Press, vol. 65(3), pages 595-621.
- Michelacci, Claudio & Silva, Olmo, 2006.
"Why So Many Local Entrepreneurs?,"
CEPR Discussion Papers
5828, C.E.P.R. Discussion Papers.
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