We study the efficiency properties of oligopoly equilibria in congested networks. Our measure of efficiency is the difference between users' willingness to pay and delay costs. Previous work has demonstrated that in networks consisting of parallel links, efficiency losses from competition are...

This chapter develops a unified framework for the study of how network interactions can function as a mechanism for propagation and amplification of microeconomic shocks. The framework nests various classes of games over networks, models of macroeconomic risk originating from microeconomic...

This chapter develops a unified framework for the study of how network interactions can function as a mechanism for propagation and amplification of microeconomic shocks. The framework nests various classes of games over networks, models of macroeconomic risk originating from microeconomic...