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 …

restricted through a network of existing relationships and traders bargain over the division of available gains from trade along … point of a set of intuitive value function equations and study efficiency and the relationship between network structure and … ; Middlemen ; Network …