pairwise stable network as an absorbing state, stochastic stability in two perturbed processes provides a significant … concentration on each side of the market of a random information shock. The analysis captures stylized facts, related to market … fragmentation, concentration and contagion asymmetry, in several two-sided economies. …

efficient network maximizing social welfare, and find that the efficient graph is either empty, complete or shows a strong core … counterfactual analyses, taking into account that the network and production can dynamically adjust to shocks or policy interventions ….6%. Our study further reveals that when ignoring the network structure the impact of firm exit or mergers is significantly …