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A Competitive Partnership Formation Process

A group of heterogeneous agents may form partnerships in pairs. All single agents as well as all partnerships generate values. If two agents choose to cooperate, they need to specify how to split their joint value among one another. In equilibrium, which may or may not exist, no agents have incentives to break up or form new partnerships. This paper proposes a dynamic competitive adjustment process that always either finds an equilibrium or exclusively disproves the existence of any equilibrium in finitely many steps. When an equilibrium exists, partnership and revenue distribution will be automatically and endogenously determined by the process. Moreover, several fundamental properties of the equilibrium solution and the model are derived.

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File URL: http://project.nek.lu.se/publications/workpap/papers/WP13_2.pdf
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Paper provided by Lund University, Department of Economics in its series Working Papers with number 2013:2.

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Length: 18 pages
Date of creation: 04 Feb 2013
Date of revision:
Publication status: Published as Andersson, Tommy, Jens Gudmundsson, Adolphus Talman and Zaifu Yang, 'A Competitive Partnership Formation Process' in Games and Economic Behavior, 2014, pages 165-177.
Handle: RePEc:hhs:lunewp:2013_002
Contact details of provider: Postal: Department of Economics, School of Economics and Management, Lund University, Box 7082, S-220 07 Lund,Sweden
Phone: +46 +46 222 0000
Fax: +46 +46 2224613
Web page: http://www.nek.lu.se/en

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  1. Andersson, Tommy & Erlanson, Albin, 2012. "Multi-Item Vickery-English-Dutch Auctions," Working Papers 2012:17, Lund University, Department of Economics, revised 15 Jan 2013.
  2. Becker, Gary S, 1973. "A Theory of Marriage: Part I," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 813-46, July-Aug..
  3. Debasis Mishra & Dolf Talman, 2008. "Characterization of the walrasian equilibria of the assignment model," Indian Statistical Institute, Planning Unit, New Delhi Discussion Papers 08-07, Indian Statistical Institute, New Delhi, India.
  4. Bettina Klaus & Alexandru Nichifor, 2010. "Consistency in one-sided assignment problems," Social Choice and Welfare, Springer, vol. 35(3), pages 415-433, September.
  5. Andersson, Tommy & Svensson, Lars-Gunnar, 2006. "Non-manipulable Assignment of Individuals to Positions Revisited," Working Papers 2006:11, Lund University, Department of Economics, revised 12 Apr 2007.
  6. Hart, Sergiu & Kurz, Mordecai, 1983. "Endogenous Formation of Coalitions," Econometrica, Econometric Society, vol. 51(4), pages 1047-64, July.
  7. Andersson, Tommy & Andersson, Christer & Talman, Adolphus Johannes Jan, 2010. "Sets in Excess Demand in Ascending Auctions with Unit-Demand Bidders," Working Papers 2010:15, Lund University, Department of Economics, revised 28 Jun 2012.
  8. Ning Sun & Zaifu Yang, 2003. "A General Strategy Proof Fair Allocation Mechanism," Working Papers 346, Bielefeld University, Center for Mathematical Economics.
  9. Kelso, Alexander S, Jr & Crawford, Vincent P, 1982. "Job Matching, Coalition Formation, and Gross Substitutes," Econometrica, Econometric Society, vol. 50(6), pages 1483-1504, November.
  10. Shapley, Lloyd & Scarf, Herbert, 1974. "On cores and indivisibility," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 23-37, March.
  11. Qin, Cheng-Zhong, 1996. "Endogenous Formation of Cooperation Structures," Journal of Economic Theory, Elsevier, vol. 69(1), pages 218-226, April.
  12. Talman, Dolf & Yang, Zaifu, 2011. "A model of partnership formation," Journal of Mathematical Economics, Elsevier, vol. 47(2), pages 206-212, March.
  13. Sun, Ning & Yang, Zaifu, 2003. "A general strategy proof fair allocation mechanism," Economics Letters, Elsevier, vol. 81(1), pages 73-79, October.
  14. Johan Karlander & Kimmo Eriksson, 2001. "Stable outcomes of the roommate game with transferable utility," International Journal of Game Theory, Springer, vol. 29(4), pages 555-569.
  15. Demange, Gabrielle & Gale, David, 1985. "The Strategy Structure of Two-sided Matching Markets," Econometrica, Econometric Society, vol. 53(4), pages 873-88, July.
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