Formation of Convoys, Tennis Ladders, Colleges and Related Groups

John Hartwick and Yoshitsugu Kanemoto

Working Paper from Economics Department, Queen's University

Abstract: We analyze the formation of a hierarchy of groups such as herds, members of a "rung" in a tennis ladder, students at a particular quality of college, or club members sharing a local public good. An individual is interested in maximizing her individual payoff which depends on a variable associated with the group and a value associated with her rank within the group. We analyze equilibria, and the stability of the equilibrium set of groups, and welfare.

Pages: 35 pages
Date: 1985
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Persistent link: https://EconPapers.repec.org/RePEc:qed:wpaper:589

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