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In this paper we introduce a stochastic network formation model where agents choose both actions and links. Neighbors … in the network benefit from each other's action levels through local complementarities and there exists a global …
Persistent link: https://www.econbiz.de/10011598616
communication or spillovers via the links between them. Linking decisions are based on network-dependent marginal payoff and a … the other agents in the network. Agents derive payoff from having access to the information of others through … network independent noise capturing exogenous idiosyncratic effects. Moreover, agents have a limited observation radius when …
Persistent link: https://www.econbiz.de/10011671893
In this paper we introduce a stochastic network formation model where agents choose both actions and links. Neighbors … in the network benefit from each other's action levels through local complementarities and there exists a global …
Persistent link: https://www.econbiz.de/10012962935
network structure. We provide a general characterization of both equilibrium networks and endogenous production choices, and … compare it to the efficient network architecture. We also allow for firms to differ in their technological characteristics …, investigate how this affects their propensity to collaborate and study the resulting network architecture. …
Persistent link: https://www.econbiz.de/10010316852
economy. Our efficiency analysis further allows us to study the effect of competition on innovation in R&D intensive … portfolio of ideas that changes over time through innovations and knowledge spillovers between collaborating firms. The … destruction leading to the obsolescence of existing technologies. We quantify the innovation gains from collaborations, and show …
Persistent link: https://www.econbiz.de/10010423836
In this paper we introduce a stochastic network formation model where agents choose both actions and links. Neighbors … in the network benefit from each other's action levels through local complementarities and there exists a global …
Persistent link: https://www.econbiz.de/10011663176
network structure. We provide a general characterization of both equilibrium networks and endogenous production choices, and … compare it to the efficient network architecture. We also allow for firms to differ in their technological characteristics …, investigate how this affects their propensity to collaborate and study the resulting network architecture. -- Bonacich centrality …
Persistent link: https://www.econbiz.de/10009747321
communication or spillovers via the links between them. Linking decisions are based on network-dependent marginal payoff and a … the other agents in the network. Agents derive payoff from having access to the information of others through … network independent noise capturing exogenous idiosyncratic effects. Moreover, agents have a limited observation radius when …
Persistent link: https://www.econbiz.de/10011599586
placing its data on others’ storage devices, given the prevailing data loss rate in the network. The cost function of an agent … captures the cost that the agent incurs to maintain links in the network. With this utility function, we analyze what network … exists a pairwise stable network, which is also efficient. We show that all pairwise stable networks are efficient, and hence …
Persistent link: https://www.econbiz.de/10012167820
Although the linear-in-means model is the workhorse model in empirical work on peer effects, its theoretical properties are understudied. In this study, we develop a social-norm model that provides a microfoundation of the linear-in-means model and investigate its properties. We show that...
Persistent link: https://www.econbiz.de/10012859300