Showing 1 - 10 of 1,258
have specific rules or constitutions governing which members may join or leave it. Given these constitutions, we consider a … social network to be stable if no group is modified any more. We provide requirements on constitutions and players …, therefore, have influence on the stability of the job market. …
Persistent link: https://www.econbiz.de/10010927716
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 substitutable and satisfy the Laws of Aggregate Supply and Demand. In the …
Persistent link: https://www.econbiz.de/10013189046
Yang s theory of economic specialization under increasing returns to scale (Yang 2001) is a formal development of the fundamental Smith-Young theorem on the extent of the market and the social division of labor.In this theory specialization and, thus, the social division of labor is firmly...
Persistent link: https://www.econbiz.de/10011090467
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 substitutable and satisfy the Laws of Aggregate Supply and Demand. In the …
Persistent link: https://www.econbiz.de/10012415626
In this paper, we show that a concept of aggregation can hold in large network games with linear best replies. Breaking up large networks into smaller subnetworks, which can be replaced by representative players, leads to a coarse-grained description of strategic interactions. This method of...
Persistent link: https://www.econbiz.de/10013396062
architectures that cannot prevent free-riding in public good network games. Finally, we show that aggregation enhances the stability …
Persistent link: https://www.econbiz.de/10011943088
We study the formation of networks in environments where agents derive benefits from other agents directly linked to them but suffer losses through contagion when any agent on a path connected to them is hit by a shock. We first consider networks with undirected links (e.g. epidemics,...
Persistent link: https://www.econbiz.de/10011744988
Since the seminal contribution of Jackson & Wolinsky 1996 [A Strategic Model of Social and Economic Networks, JET 71, 44-74] it has been widely acknowledged that the formation of social networks exhibits a general conflict between individual strategic behavior and collective outcome. What has...
Persistent link: https://www.econbiz.de/10005002279
interaction; and multilateral collaboration. We introduce two stability concepts and provide sufficient and neccessary conditions … neccessary for stability. In particular, the stability of more complex economic outcomes requires more stringent restrictions on …
Persistent link: https://www.econbiz.de/10010486367
We study the formation of networks in environments where agents derive benefits from other agents directly linked to them but suffer losses through contagion when any agent on a path connected to them is hit by a shock. We first consider networks with undirected links (e.g. epidemics,...
Persistent link: https://www.econbiz.de/10011735929