Showing 1 - 10 of 217
{private signal} correlated with the underlying state, they exchange information over the induced \textit{communication network} until … some additional conditions, also only if) in the induced communication network most agents are a short distance away from … response, it is an equilibrium when the communication network induces asymptotic learning. Moreover, we contrast equilibrium …
Persistent link: https://www.econbiz.de/10011599505
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
This paper develops a simple model in which a social hierarchy emerges endogenously when agents form a network for …, as well as their value function, increases (strictly) concavely in the total activity of their neighbours in the network … endogenise network formation, equilibria become strongly structured: more active players have more neighbours, i.e. a higher …
Persistent link: https://www.econbiz.de/10011599542
We address the problem of a planner looking for the efficient network when agents play a network game with local … complementarities and links are costly. We show that for general network cost functions, efficient networks belong to the class of … Nested-Split Graphs. Next, we refine our results and find that, depending on the specification of the network cost function …
Persistent link: https://www.econbiz.de/10011599571
This paper proposes a tractable model that allows us to analyze how agents' perception of relationships with others determines the structures of networks. In our model, agents are endowed with their own multidimensional characteristics and their payoffs depend on the social distance between...
Persistent link: https://www.econbiz.de/10012010081
This paper studies a game of attack and interception in a network, where a single attacker chooses a target and a path … characterize equilibrium attack paths and attack distributions as a function of the underlying network and target values. We show …
Persistent link: https://www.econbiz.de/10014536957
I present a model of observational learning with payoff interdependence. Agents, ordered in a sequence, receive private signals about an uncertain state of the world and sample previous actions. Unlike in standard models of observational learning, an agent's payoff depends both on the state and...
Persistent link: https://www.econbiz.de/10012215316
We develop a dynamic framework of strategic information transmission through cheap talk in a social network. Privately … their neighbors in the network. We first characterize myopic (best response) equilibria as well as fully informative myopic … dominate farsighted equilibria, in particular if a social planner has designed the network optimally. …
Persistent link: https://www.econbiz.de/10012215318
{private signal} correlated with the underlying state, they exchange information over the induced \textit{communication network} until … some additional conditions, also only if) in the induced communication network most agents are a short distance away from … response, it is an equilibrium when the communication network induces asymptotic learning. Moreover, we contrast equilibrium …
Persistent link: https://www.econbiz.de/10010738405
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/10010738410