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In a general model of trading networks with bilateral contracts, we propose a suitably adapted chain stability concept that plays the same role as pairwise stability in two-sided settings. We show that chain stability is equivalent to stability if all agents' preferences are jointly fully...
Persistent link: https://www.econbiz.de/10012415626
particular, if the linking costs are not too low and not too high, at least one such network is pairwise stable. Moreover, in … explanation for many core-periphery structures observed in real life social networks. -- Network Formation ; Heterogeneity …
Persistent link: https://www.econbiz.de/10008810996
Two project leaders (or entrepreneurs) in a network, which captures social relations, recruit players in a strategic … selects one equilibrium at a time. An agent's expected payoff is related to his position in the network, though no centrality …
Persistent link: https://www.econbiz.de/10008811012
In this paper, I incorporate a complex network model into a state of the art stochastic general equilibrium framework … the tools of network analysis it is possible to study how contagion spreads between banks and what is the probability and …
Persistent link: https://www.econbiz.de/10012241220
, and a willingness to pay for connectivity. A planner aims at implementing a welfare maximizing network and allocating the …
Persistent link: https://www.econbiz.de/10012242016
Directed links in cash flow networks a↵ect the cross-section of risk premia through three channels. In a tractable consumption-based equilibrium asset pricing model, we obtain closed-form solutions that disentangle these channels for arbitrary directed networks. First, shocks that can...
Persistent link: https://www.econbiz.de/10012303203
knowledge production, where collaboration between researchers is represented by a bipartite network. The equilibrium of the game … analyzing the coauthorship network of economists registered in the RePEc Author Service. …
Persistent link: https://www.econbiz.de/10012271021
We present an analytical solution for the connectivity of a network model with a "non-simultaneous" linking scheme … system. Finally as an explanatory case we evaluate the growth of the network value in relation with the system …
Persistent link: https://www.econbiz.de/10011719779
nodes. First, we propose a mathematical description of the extreme introvert and extrovert model (XIE), a dynamic network … initiative of the single units when they act. We select the minimal case of a bipartite network where we have two groups of nodes … extreme Thouless effect in this model, i.e. a mixed-phase transition at which the order parameter, here given by the network …
Persistent link: https://www.econbiz.de/10011671040
In this paper, we connect the social network theory on centrality measures to the economic theory of preferences and … different networks. The famous degree measure assigns to every position in a weighted network the sum of the weights of all … links with its neighbours. A crucial property of a preference relation over network positions is neutrality to ordinary risk …
Persistent link: https://www.econbiz.de/10011688772