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Reputation deals: a theory of endogenous teams

Author

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  • Gunther Lang

Abstract

This paper complements the traditional theory of teams (Fama (1980), Holmstrom (1982a,b)) by introducing endogenous team formation by agents who are concerned with their reputations and are informed about the types of their potential teammates. Such a situation leads to a trade of between joining a high-productivity type but a low-reputation partner. It is examined whether there are gains from trade, both, for the case of non-transferable and transferable utility, and what can be learned from reputation deals. Furthermore, a signaling model of teaming is developed that captures in a consistent way the process of information acquisition by the agents' strategic opponent, the market

Suggested Citation

  • Gunther Lang, 2001. "Reputation deals: a theory of endogenous teams," Nova SBE Working Paper Series wp404, Universidade Nova de Lisboa, Nova School of Business and Economics.
    • Handle: RePEc:unl:unlfep:wp404
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    More about this item

    Keywords

    Endogenous teams; reputation; signaling; adverse selection;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
    • L23 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Organization of Production

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