{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 …

We introduce a simple two-stage game of endogenous network formation and information sharing for reasoning about the … then we study how the network design and the utility specifications affect welfare. Surprisingly, we find that in general … "babblers" or "friends", irrespective of whether the network is unilateral or bilateral, in equilibrium, targeted information …