We introduce a matching model in which agents engage in joint ventures via multilateral contracts. This approach allows us to consider production complementarities previously outside the scope of matching theory. We show analogues of the first and second welfare theorems and, when agents'...

We consider the matching with contracts framework of Hatfield and Milgrom [20], and we introduce new concepts of bilateral and unilateral substitutes. We show that the bilateral substitutes condition is a sufficient condition for the existence of a stable allocation in this framework. However,...

We extend the folk theorem of repeated games to two settings in which players' information about others' play arrives with stochastic lags. In our first model, signals are almost-perfect if and when they do arrive, that is, each player either observes an almost-perfect signal of period-t play...