Multilateral matching

John William Hatfield and Scott Kominers

Journal of Economic Theory, 2015, vol. 156, issue C, 175-206

Abstract: We introduce a matching model in which agents engage in joint ventures via multilateral contracts. This approach allows us to consider production complementarities previously outside the scope of matching theory. We show analogues of the first and second welfare theorems and, when agents' utilities are concave in venture participation, show that competitive equilibria exist, correspond to stable outcomes, and yield core outcomes. Competitive equilibria exist in our setting even when externalities are present.

Keywords: Matching; Networks; Joint ventures; Stability; Competitive equilibrium; Core (search for similar items in EconPapers)
JEL-codes: C62 C71 C78 D85 L14 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jetheo:v:156:y:2015:i:c:p:175-206

DOI: 10.1016/j.jet.2014.04.009

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