Renou, Ludovic (2006) Partnerships. Working Paper. University of Adelaide School of Economics Working Papers.
Full text not available from this repository.Abstract
This paper analyzes the endogenous formation of a partnership as the trade-off between efficiency gains and a 'cost' associated with the partial loss of control over the decisions the partnership takes. For instance, by forming a monetary union, countries benefit from a more coordinated monetary policy. However, due to the partial loss of control over the union decision, the policy implemented might differ from the policy a member would have taken on their own. We interpret this possible difference as a cost. We notably show that individuals with 'similar' characteristics form a partnership, and the more diverse the characteristics, the smaller the partnership size.
Item Type: | Monograph (Working Paper) |
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Uncontrolled Keywords: | partnerships; coalitions; alliances; endogenous formation; efficiency gains; loss of control; divers |
Subjects: | H Social Sciences > HB Economic Theory |
Divisions: | Faculty of Social Sciences > Economics, Department of |
Depositing User: | Jim Jamieson |
Date Deposited: | 07 Jan 2013 12:38 |
Last Modified: | 07 Jan 2013 12:38 |
URI: | http://repository.essex.ac.uk/id/eprint/5015 |
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