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Nestedness in networks: A theoretical model and some applications

Zenou, Yves; König, Michael D.; Tessone, Claudio J. - In: Theoretical Economics 9 (2014) 3, pp. 695-752

formed on the basis of agents' centrality and have an exponentially distributed life time. We use stochastic stability to …

Persistent link: https://www.econbiz.de/10011599526

The formation of networks with local spillovers and limited observability

König, Michael David - In: Theoretical Economics 11 (2016) 3, pp. 813-863

This paper analyzes the formation of networks in which each agent is assumed to possess some information of value to the other agents in the network. Agents derive payoff from having access to the information of others through communication or spillovers via the links between them. Linking...

Persistent link: https://www.econbiz.de/10011599586

Nestedness in networks: A theoretical model and some applications

Zenou, Yves; König, Michael D.; Tessone, Claudio J. - In: Theoretical Economics 9 (2014) 3

formed on the basis of agents' centrality and have an exponentially distributed life time. We use stochastic stability to …

Persistent link: https://www.econbiz.de/10011019213

Chain stability in trading networks

Hatfield, John William; Kominers, Scott Duke; Nichifor, … - In: Theoretical Economics 16 (2021) 1, pp. 197-234

In a general model of trading networks with bilateral contracts, we propose a suitably adapted chain stability concept … that plays the same role as pairwise stability in two-sided settings. We show that chain stability is equivalent to … stability if all agents' preferences are jointly fully substitutable and satisfy the Laws of Aggregate Supply and Demand. In the …

Persistent link: https://www.econbiz.de/10013189046

Stochastic stability in monotone economies

Stachurski, John; Kamihigashi, Takashi - In: Theoretical Economics 9 (2014) 2, pp. 383-407

This paper extends a family of well-known stability theorems for monotone economies to a significantly larger class of … models. We provide a set of general conditions for existence, uniqueness and stability of stationary distributions when … monotonicity holds. The conditions in our main result are both necessary and sufficient for global stability of monotone economies …

Persistent link: https://www.econbiz.de/10011599516

Stochastic stability in monotone economies

Stachurski, John; Kamihigashi, Takashi - In: Theoretical Economics 9 (2014) 2

Persistent link: https://www.econbiz.de/10010773109

A general framework for rational learning in social networks

Mueller-Frank, Manuel - In: Theoretical Economics 8 (2013) 1, pp. 1-40

This paper provides a formal characterization of the process of rational learning in social networks. Agents receive initial private information and select an action out of a choice set under uncertainty in each of infinitely many periods, observing the history of choices of their neighbors....

Persistent link: https://www.econbiz.de/10011599474

Dynamics of information exchange in endogenous social networks

Bimpikis, Kostas; Ozdaglar, Asuman; Acemoglu, Daron - In: Theoretical Economics 9 (2014) 1, pp. 41-97

We develop a model of information exchange through communication and investigate its implications for information aggregation in large societies. An \textit{underlying state} determines payoffs from different actions. Agents decide which others to form a costly \textit{communication link} with,...

Persistent link: https://www.econbiz.de/10011599505

Efficiency in repeated games with local interaction and uncertain local monitoring

Nava, Francesco; Piccione, Michele - In: Theoretical Economics 9 (2014) 1, pp. 279-312

The paper discusses community enforcement in infinitely repeated, two-action games with local interaction and uncertain monitoring. Each player interacts with and observes only a fixed set of opponents, of whom he is privately informed. The main result shows that when beliefs about the...

Persistent link: https://www.econbiz.de/10011599512

Communication with tokens in repeated games on networks

Wolitzky, Alexander - In: Theoretical Economics 10 (2015) 1, pp. 67-101

A key obstacle to coordination and cooperation in many networked environments is that behavior in each bilateral relationship is not observable to individuals outside that relationship: that is, information is local. This paper investigates when players can use communication to replicate any...

Persistent link: https://www.econbiz.de/10011599535