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Inefficiencies in a model of spatial networks formation with positive externalities

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Author Info
Carayol, Nicolas
Roux, Pascale
YIldIzoGlu, Murat

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Abstract

In this paper, we make an exploratory use of computational techniques (genetic algorithms and Monte Carlo simulations) to compute efficient and emergent networks in a spatialized version of the connections model of Jackson and Wolinski [Jackson, M.O., Wolinski, A., 1996. A strategic model of social and economic networks. Journal of Economic Theory 71, 44-74]. This approach allows us to observe and discuss inefficiencies that arise in a strategic network formation context with imperfectly link-mediated positive externalities to connections and spatial link costs. Our results highlight that, depending on the strength of the externalities, emergent and efficient networks may share several structural properties. Nevertheless, emergent networks are insufficiently dense and should be more structured around central agents.

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File URL: http://www.sciencedirect.com/science/article/B6V8F-4SBHWW4-1/1/9b522d1d1ffe787a65e3aedf94a1cf5e
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Publisher Info
Article provided by Elsevier in its journal Journal of Economic Behavior & Organization.

Volume (Year): 67 (2008)
Issue (Month): 2 (August)
Pages: 495-511
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Handle: RePEc:eee:jeborg:v:67:y:2008:i:2:p:495-511

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  1. Michael D. König & S. Battiston & M. Napoletano & F. Schweitzer, 2008. "The Efficiency and Evolution of R&D Networks," Economics working paper series 08/95, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich. [Downloadable!]
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  2. Giorgio Fagiolo & Andrea Roventini, 2008. "On the Scientific Status of Economic Policy: A Tale of Alternative Paradigms," LEM Papers Series 2008/03, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy. [Downloadable!]
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  3. Nicolas Carayol (ADIS, BETA) & Pascale Roux (ADIS, BETA) & Murat Yildizoglu (GREThA), 2007. "In search of efficient network structures: The needle in the haystack," Cahiers du GREThA 2007-11, Groupe de Recherche en Economie Théorique et Appliquée. [Downloadable!]
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