In all social and economic interactions, individuals or coalitions choose not only with whom to interact but how to interact, and over time both the structure (the “with whom”) and the strategy (“the how”) of interactions change. Our objectives here are to model the structure and...

Modeling club structures as bipartite directed networks, we formulate the problem of club formation as a noncooperative game of network formation and identify conditions on network formation rules and players' network payoffs sufficient to guarantee that the game has a potential function. Our...

In all social and economic interactions, individuals or coalitions choose not only with whom to interact but how to interact, and over time both the structure (the "with whom") and the strategy ("the how") of interactions change. Our objectives here are to model the structure and strategy of...

Chichilnisky (1997) claims that another variant of her condition limiting arbitrage is necessary and sufficient for existence of equilibrium and nonemptiness of the core in an economy with short sales allowing half lines in indifference surfaces. Her proof, however, is based on a proposition...

Given the preferences of players and the rules governing network formation, what networks are likely to emerge and persist? And how do individuals and coalitions evaluate possible consequences of their actions in forming networks? To address these questions we introduce a model of network...

We make four main contributions to the theory of network formation. (1) The problem of network formation with farsighted agents can be formulated as an abstract network formation game. (2) In any farsighted network formation game the feasible set of networks contains a unique, finite, disjoint...

In all social and economic interactions, individuals or coalitions choose not only with whom to interact but how to interact, and over time both the structure (the "with whom") and the strategy ("the how") of interactions change. Our objectives here are to model the structure and strategy of...

In all social and economic interactions, individuals or coalitions choose not only with whom to interact but how to interact, and over time both the structure (the “with whom”) and the strategy (“the how”) of interactions change. Our objectives here are to model the structure and...