We investigate the equilibria of game theoretic models of network formation that are based on individual actions only.Our approach is grounded in three simple and realistic principles: (1) Link formation should be a binary process of consent.(2) Link formation should be costly.(3) The class of...

We consider game theoretic models of social network formation.In this paper we limit our investigation to game theoretic models of network formation that are based on individual actions only.Our approach is based on three simple and realistic principles: (1) Link formation is a binary process of...

We consider the problem of control of access to a firm's productive asset, embedding the decision makers into a structure of formal authority relationships.Within such a structure, decision makers act as principal to some decision makers, while they act as agent to other decision makers.We study...