In this investigation, we analyze a network formation game in a strategic setting where pay-offs of individuals depend only on their immediate neighbourhood. These localized pay-offs incorporate the social capital emanating from bridging positions that nodes hold in the network. Using this...

The importance of oil in the economy of any country cannot be overemphasized. The oil shocks in the 1970s sent shockwaves to almost all the countries in the world, oil-importing countries in particular. Substantial literature has been developed basing on the role played by oil consumption in the...