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In this paper, we describe a series of laboratory experiments that implement specific examples of a more general network structure and we examine equilibrium selection. Specifically, actions are either strategic substitutes or strategic complements, and participants have either complete or...
Persistent link: https://www.econbiz.de/10010344833
Persistent link: https://www.econbiz.de/10010354731
This paper studies adaptive learning in the class of weighted network games. This class of games includes applications like research and development within interlinked firms, crime within social networks, the economics of pollution, and defense expenditures within allied nations. We show that...
Persistent link: https://www.econbiz.de/10012944776
This paper studies information acquisition and use in network games. The network structure incorporates both strategic complements (positive links) and substitutes (negative links). An information-use game played on a correlation-adjusted network is derived. Equilibrium inefficiencies in both...
Persistent link: https://www.econbiz.de/10012854885
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...
Persistent link: https://www.econbiz.de/10011672127
This paper considers a population of agents that are engaged in a listening network. The agents wish to match their actions to the true value of some uncertain (exogenous) parameter and to the actions of the other agents. Each agent begins with some initial information about the parameter and,...
Persistent link: https://www.econbiz.de/10011621465
; clearly, this is a restrictive assumption. We developed a theory called sign-equivalent transformation (SET) underlying the … mathematical structure behind a system of equations defining the Nash equilibrium. By applying our theory, we reveal that many … best-response potentials after appropriate restructuring of equilibrium conditions using SET. Thus, through our theory, we …
Persistent link: https://www.econbiz.de/10014076777
We provide an overview and synthesis of the literatures analyzing games in which players are connected via a network structure. We discuss, in particular, the impact of the structure of the network on individuals’ behaviors. We focus on game theoretic modeling, but also include some discussion...
Persistent link: https://www.econbiz.de/10014025456
dependent censored random variables. Second, in contrast to most of the existing literature, our inferential theory relies on a …
Persistent link: https://www.econbiz.de/10011297621
We investigate the estimation of models of dynamic discrete-choice games of incomplete information, formulating the maximum-likelihood estimation exercise as a constrained optimization problem which can be solved using state-of-the-art constrained optimization solvers. Under the assumption that...
Persistent link: https://www.econbiz.de/10013065323