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Strategic default in financial networks
Allouch, Nizar; Jalloul, Maya; Duncan, Alfred - 2021
This paper investigates a model of default in financial networks where the decision by one agent on whether or not to default impacts the incentives of other agents to escape default. Agents' payoffs are determined by the clearing mechanism introduced in the seminal contribution of Eisenberg and...
Persistent link: https://www.econbiz.de/10012655559
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The formation of a core periphery structure in heterogeneous financial networks
Veld, Daan in 't; Leij, Marco van der; Hommes, Cars H. - 2014
at giving an economic explanation for the emergence of such a structure using network formation theory. Focusing on …
Persistent link: https://www.econbiz.de/10010384387
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Liquidity Runs
Matta, Rafael - 2016
asset liquidity risk arises even under minimal fundamental risk. To study the role of illiquidity we introduce realistic … not available in a run, asset liquidity risk has a concave effect on run incentives, quite unlike fundamental risk. Runs … are rare when asset liquidity is abundant, become more frequent as it falls and decrease again under very low asset …
Persistent link: https://www.econbiz.de/10012980992
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Investigating peer and sorting effects within an adaptive multiplex network model
Lipari, Francesca; Stella, Massimo; Antonioni, Alberto - In: Games 10 (2019) 2/16, pp. 1-12
Individuals have a strong tendency to coordinate with all their neighbors on social and economics networks. Coordination is often influenced by intrinsic preferences among the available options, which drive people to associate with similar peers, i.e., homophily. Many studies reported that...
Persistent link: https://www.econbiz.de/10012062102
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On information aggregation and interim efficiency in networks
Jiménez-Martínez, Antonio - In: Games 8 (2017) 1, pp. 1-14
This paper considers a population of agents that are engaged in a listening network. The agents wish to match their actions to the true value of some uncertain (exogenous) parameter and to the actions of the other agents. Each agent begins with some initial information about the parameter and,...
Persistent link: https://www.econbiz.de/10011621465
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Learning faster or more precisely? : strategic experimentation in networks
Wuggenig, Mirjam - 2014
The paper analyzes a dynamic model of rational strategic learning in a network. It complements existing literature by providing a detailed picture of short-run dynamics in a game of strategic experimentation where agents are located in a social network. We show that the delay in information...
Persistent link: https://www.econbiz.de/10010441988
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Locally Bayesian learning in networks
Li, Wei; Xu Tan - In: Theoretical economics : TE ; an open access journal in … 15 (2020) 1, pp. 239-278
Agents in a network want to learn the true state of the world from their own signals and their neighbors' reports. Agents know only their local networks, consisting of their neighbors and the links among them. Every agent is Bayesian with the (possibly misspecified) prior belief that her local...
Persistent link: https://www.econbiz.de/10012159057
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Whom can you trust? : reputation and cooperation in networks
King, Maia - 2017
Community enforcement is an important device for sustaining efficiency in some repeated games of cooperation. We investigate cooperation when information about players' reputations spreads to their future partners through links in a social network that connects them. We find that information...
Persistent link: https://www.econbiz.de/10011773641
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Coordination with Constrained Network Formation
Cui, Zhiwei - 2019
e study whether maximum efficiency can be obtained in a stochastic learning model where players can actively form links with a limited number of peers to play a size-dependent minimum-effort game. The long-run equilibrium is contingent on the linking constraint and the marginal payoff from...
Persistent link: https://www.econbiz.de/10012859146
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Locally Bayesian Learning in Networks
Li, Wei - 2019
Agents in a network want to learn the true state of the world from their own signals and their neighbors' reports. Agents know only their local networks, consisting of their neighbors and the links among them. Every agent is Bayesian with the (possibly misspecified) prior belief that her local...
Persistent link: https://www.econbiz.de/10012859161