In this note, we consider a broad class of network models where a large number of heterogeneous agents simultaneously …

This paper provides a game-theoretic model of network formation with a continuous effort choice. Efforts are strategic … complements for direct neighbors in the network and display global substitution/congestion effects. We show that if the parameter … links according to a network cost function. Again all socially optimal configurations are such that the network is a nested …

if the network is 2-connected: that is, if no player can prevent the flow of information to another. In contrast, the …