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Coordinated Multipoint (CoMP) is one of the key technologies identified for future wireless networks to mitigate inter-cell interference, especially in a dense deployment scenario. However, CoMP can't be realized for the whole network due to its computational complexity, synchronization between coordinating base stations (BSs) and high backhaul (BH) capacity requirement. BSs need to be clustered into smaller groups and CoMP can be activated within these smaller clusters. In this paper, we develop a multi-objective, dynamic clustering model for multi-user, joint-transmission CoMP to jointly optimize spectral efficiency (SE), radio access network (RAN) load and BH load. We formulate our load-aware model as two coalitional sub-games for small cell and user equipment clustering, respectively. Merge/split/transfer actions for each sub-game are defined and a complexity and stability analysis is provided. Extensive …