Forming efficient networks
AbstractIn this paper, we suggest a simple sequential mechanism whose subgame perfect equilibria give rise to efficient networks. Moreover, the payoffs received by the agents coincide with their Shapley value in an appropriately defined cooperative game.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 87 (2005)
Issue (Month): 1 (April)
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Web page: http://www.elsevier.com/locate/ecolet
Other versions of this item:
- David Pérez-Castrillo & David Wettstein, 2004. "Forming Efficient Networks," Working Papers 123, Barcelona Graduate School of Economics.
- David Pérez-Castrillo & David Wettstein, 2004. "Forming Efficient Networks," UFAE and IAE Working Papers 609.04, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
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