On “relational goods”: strategic implications of investment in relationships

On “relational goods”: strategic implications of investment in relationships Discusses the concept of “relational goods”, defined as intangible capital assets that inhere in enduring interpersonal relationships and provide both intrinsic and instrumental benefits. They are local public goods that are formed or maintained through non‐contractible, co‐ordinated actions. Presents a simple model of investment in exogenously formed two‐person relationships and discusses the model under different assumptions as to agents’ homogeneity, pair formation and type observability. Discusses the possibility of endogenous type change and interprets it in terms of the evolution of cultural attitudes towards such a peculiar and fragile asset, as are relationships. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Social Economics Emerald Publishing

On “relational goods”: strategic implications of investment in relationships

International Journal of Social Economics, Volume 23 (10/11): 19 – Oct 1, 1996

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Publisher
Emerald Publishing
Copyright
Copyright © 1996 MCB UP Ltd. All rights reserved.
ISSN
0306-8293
DOI
10.1108/03068299610149589
Publisher site
See Article on Publisher Site

Abstract

Discusses the concept of “relational goods”, defined as intangible capital assets that inhere in enduring interpersonal relationships and provide both intrinsic and instrumental benefits. They are local public goods that are formed or maintained through non‐contractible, co‐ordinated actions. Presents a simple model of investment in exogenously formed two‐person relationships and discusses the model under different assumptions as to agents’ homogeneity, pair formation and type observability. Discusses the possibility of endogenous type change and interprets it in terms of the evolution of cultural attitudes towards such a peculiar and fragile asset, as are relationships.

Journal

International Journal of Social EconomicsEmerald Publishing

Published: Oct 1, 1996

Keywords: Economics; Interpersonal communications; Investment; Labour mobility

References

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