We examine a simple economic model of network formation where agents benefit from indirect relationships. We show that small-world features - -- short path lengths between nodes together with highly clustered link structures --- necessarily emerge for a wide set of parameters.

Economic organization of the imaginary worlds depicted in popular literary works may be viewed as a mirror to public opinion on the economic organization of life. If a book becomes a best-seller, it is because the book conveys messages, feelings, and events the readers can relate to. In other...

We offer the first direct evidence of an implicit contract in a goods market. The evidence we offer comes from the market for Coca-Cola. We demonstrate that the Coca-Cola Company left a substantial amount of written evidence of its implicit contract with its consumers—a very explicit form of...

We examine a new class of games, which we call social games, where players not only choose strategies but also choose with whom they play. A group of players who are dissatisfied with the play of their current partners can join together and play a new equilibrium. This imposes new refinements on...

We present a model of network formation where entering nodes find other nodes to link to both completely at random and through search of the neighborhoods of these randomly met nodes. We show that this model exhibits the full spectrum of features that have been found to characterize large...

This paper analyzes the data from a questionnaire mailed to professors in the Economics' departments of the Spanish public universities about their working habits as to information sources used and journals where they used to publish. Responses received indicate two main dimensions of journals'...

Previous allocation rules for network games, such as the Myerson Value, implicitly or explicitly take the network structure as fixed. In many situations, however, the network structure can be altered by players. This means that the value of alternative network structures (not just sub-networks)...

I survey the recent literature on the formation of networks. I provide definitions of network games, a number of examples of models from the literature, and discuss some of what is known about the (in)compatibility of overall societal welfare with individual incentives to form and sever links.

Bisherige wissenschaftliche Untersuchungen befassen sich vorwiegend mit einer ethischen Unternehmensbewertung aus der Anlegerperspektive. Im vorliegenden Beitrag soll jedoch die Perspektive des Konsumenten eingenommen werden und es sollen Möglichkeiten zur Gestaltung eines derartigen Ratings...

An imperative need has arisen to provide a Constructive push to the President Bush. American population, Corporate units, Expatriates and all nations with their currency related to US $, are not happy in the current $ dipping situation. Even the currencies of poor nations are galloping upward in...