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Partnership formation with age-dependent preferences

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Show simple item record Alpern, S. Katrantzi, I. Ramsey, David 2014-07-22T13:03:31Z 2014-07-22T13:03:31Z 2013
dc.description peer-reviewed en_US
dc.description.abstract We analyze a model of partnership formation in which players’ preferences are based on the age of a prospective partner. There are two classes of individuals, called for convenience here male and female. Males and females are fertile for the same length of time, normalized to one unit. A male enters the mating pool at age 0 and meets prospective partners according to a Poisson process. At equilibrium, he accepts a female if the utility from mating exceeds the expected utility from future search, which depends on the acceptance strategies of all males and females and the corresponding steady-state distribution of age in the pool of unmated individuals. Females face an analogous problem. Mating pairs are only formed by mutual consent and individuals leave the pool of unmated individuals on finding a mating partner or reaching the age of 1. A policy iteration algorithm is used to determine the equilibrium acceptance strategies and the corresponding steady-state distribution of the age of individuals in the mating pool. Two examples are presented. en_US
dc.language.iso eng en_US
dc.publisher Elsevier en_US
dc.relation.ispartofseries European Journal of Operational Research;225 (1), pp. 91-99
dc.rights This is the author’s version of a work that was accepted for publication in European Journal of Operational Research. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in European Journal of Operational Research, 225 (1), pp. 91-99,, en_US
dc.subject game theory en_US
dc.subject partnership formation en_US
dc.subject policy iteration en_US
dc.subject equilibrium profile 91A13, 91A25 en_US
dc.title Partnership formation with age-dependent preferences en_US
dc.type info:eu-repo/semantics/preprint en_US
dc.type.supercollection all_ul_research en_US
dc.type.supercollection ul_published_reviewed en_US
dc.contributor.sponsor SFI en_US
dc.relation.projectid 07/MI012 en_US
dc.rights.accessrights info:eu-repo/semantics/openAccess en_US

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