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The Evolution of Teams

In: Teamwork

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  • David P. Myatt
  • Chris Wallace

Abstract

Many economic and social activities require a critical number of individuals (referred to here as a ‘team’) to participate in order to ensure the success of a given project or task. As a result, these kinds of activities frequently experience the well-known problems associated with collective actions.1 Focus here is directed at two such problems. First, such activities can involve a positive externality: participation in a team leads to a private cost borne by the individual, but the benefits of the team’s efforts accrue to all. Second, successful team formation requires coordination: absent the participation of a sufficient number of individuals, the project as a whole would fail.2

Suggested Citation

  • David P. Myatt & Chris Wallace, 2005. "The Evolution of Teams," Palgrave Macmillan Books, in: Natalie Gold (ed.), Teamwork, chapter 4, pages 78-101, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-52320-3_5
    DOI: 10.1057/9780230523203_5
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    References listed on IDEAS

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    1. John C. Harsanyi & Reinhard Selten, 1988. "A General Theory of Equilibrium Selection in Games," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262582384, April.
    2. Leslie M. Marx & Steven A. Matthews, 2000. "Dynamic Voluntary Contribution to a Public Project," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 67(2), pages 327-358.
    3. Carlsson, Hans & van Damme, Eric, 1993. "Global Games and Equilibrium Selection," Econometrica, Econometric Society, vol. 61(5), pages 989-1018, September.
    4. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January.
    5. David P. Myatt & Hyun Song Shin & Chris Wallace, 2002. "The Assessment: Games and Coordination," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 18(4), pages 397-417.
    6. Stephen Morris & Hyun Song Shin, 2000. "Global Games: Theory and Applications," Cowles Foundation Discussion Papers 1275, Cowles Foundation for Research in Economics, Yale University.
    7. Eduardo Ley, 1996. "On the private provision of public goods: a diagrammatic exposition," Investigaciones Economicas, Fundación SEPI, vol. 20(1), pages 105-123, January.
    8. Kandori, Michihiro & Mailath, George J & Rob, Rafael, 1993. "Learning, Mutation, and Long Run Equilibria in Games," Econometrica, Econometric Society, vol. 61(1), pages 29-56, January.
    9. Dewatripont,Mathias & Hansen,Lars Peter & Turnovsky,Stephen J. (ed.), 2003. "Advances in Economics and Econometrics," Cambridge Books, Cambridge University Press, number 9780521818742, September.
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    12. Dewatripont,Mathias & Hansen,Lars Peter & Turnovsky,Stephen J. (ed.), 2003. "Advances in Economics and Econometrics," Cambridge Books, Cambridge University Press, number 9780521524124, September.
    13. David P. Myatt & Chris Wallace, 2002. "Equilibrium Selection and Public-good Provision: The Development of Open-source Software," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 18(4), pages 446-461.
    14. Mathias Dewatripont & Lars Peter Hansen & Stephen Turnovsky, 2003. "Advances in economics and econometrics :theory and applications," ULB Institutional Repository 2013/9557, ULB -- Universite Libre de Bruxelles.
    15. Dewatripont,Mathias & Hansen,Lars Peter & Turnovsky,Stephen J. (ed.), 2003. "Advances in Economics and Econometrics," Cambridge Books, Cambridge University Press, number 9780521818728, September.
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    19. David P. Myatt & Chris Wallace, 2002. "Equilibrium Selection and Public Good Provision," Economics Series Working Papers 103, University of Oxford, Department of Economics.
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    Cited by:

    1. Wallace, Chris & Young, H. Peyton, 2015. "Stochastic Evolutionary Game Dynamics," Handbook of Game Theory with Economic Applications,, Elsevier.

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    More about this item

    Keywords

    Nash Equilibrium; Public Good; Simple Game; Team Size; Private Cost;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods

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