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Limited Observation in Mutual Consent Networks

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  • McBride Michael

    ()
    (UC Irvine)

Abstract

This paper studies mutual consent social networks in which individuals imperfectly monitor others' network ties and have incomplete information about the benefits of network participation. I introduce the Conjectural Pairwise Stability concept, which generalizes Jackson and Wolinsky's (1996) Pairwise Stability concept to allow for limited observation, and apply it to a specific mutual consent network formation game. While limited observation generally leads to the existence of less efficient stable networks, I find that it can also lead to the existence of efficient stable networks. Moreover, stability restrictions considered in previous work lose their refining power as observation becomes more limited.

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Bibliographic Info

Article provided by De Gruyter in its journal The B.E. Journal of Theoretical Economics.

Volume (Year): 6 (2006)
Issue (Month): 1 (August)
Pages: 1-29

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Handle: RePEc:bpj:bejtec:v:advances.6:y:2006:i:1:n:3

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Cited by:
  1. Michael McBride, 2003. "Position-specific information in social networks: Are you connected?," Levine's Working Paper Archive 506439000000000265, David K. Levine.
  2. Topi Miettinen & Panu Poutvaara, 2012. "A Market for Connections," CESifo Working Paper Series 3810, CESifo Group Munich.
  3. Antoni Rubi-Barcelo, 2013. "Categorical Segregation from a Game Theoretical Approach," Annals of Economics and Finance, Society for AEF, vol. 14(1), pages 85-120, May.

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