Publications
Publications
- Journal of Economic Theory
Multilateral Matching
By: John William Hatfield and Scott Duke Kominers
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; Stability; Competitive Equilibrium; Core; Networks; Competition; Joint Ventures; Balance and Stability; Groups and Teams; Entrepreneurship
Citation
Hatfield, John William, and Scott Duke Kominers. "Multilateral Matching." Journal of Economic Theory 156 (March 2015): 175–206.
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