We present a theoretical model that attempts to generalize the conditions for alliance formation. This model is based on internal and external conditions of alliance formation: resource heterogeneity and competitive dynamics. We also introduce a game-theoretic model of alliance formation according to the net gains from an alliance and the prevention of losses that could occur from competitors' alliance activities. The model provides a theoretical insight on a paradoxical setting that some firms join an alliance despite little gains while others avoid or delay it despite potentially strong gains from the alliance.
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Park et al. (2005) studied this question.
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