Stable Economic Cooperation: A Relational Approach

R.P. Gilles, E.A. Lazarova and P.H.M. Ruys
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P.H.M. Ruys: Tilburg University, Center for Economic Research

No 2008-25, Discussion Paper from Tilburg University, Center for Economic Research

Abstract: We consider a relational economy in which economic agents participate in three types of relational economic activities: autarkic activities; binary matching activities; and plural cooperative activities. We introduce a stability notion and characterize stable interaction structures, both in the absence of externalities from cooperation as well as in the presence of size-based externalities. It is shown that institutional elements such as the emergence of socio-economic roles and organizations based on hierarchical leadership structures support and promote stable economic development.

JEL-codes: C72 D71 D85 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-gth, nep-net and nep-soc
Date: 2008
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