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The Effects of Information and Interactions on Contagion Processes

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  • Simon Angus

    (School of Economics, Monash University)

  • Virginie Masson

    ()
    (School of Economics, University of Adelaide)

Abstract

The network literature commonly neglects the importance of a clear distinction between interactions and information exchanges. Although convenient, this oversight is not innocuous and may lead to erroneous conclusions when looking at mechanisms such as contagion processes. We use simulation methods and conduct a systematic analysis of the implications of such omission. We show that the lack of distinction between information and interaction structures is not without consequences. More precisely, when agents use a myopic best response, only information exchanges matter and interactions can be ignored. With imitation however, both information and interactions play important yet different roles in contagion.

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File URL: http://www.economics.adelaide.edu.au/research/papers/doc/wp2010-12.pdf
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Bibliographic Info

Paper provided by University of Adelaide, School of Economics in its series School of Economics Working Papers with number 2010-12.

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Length: 31 pages
Date of creation: Jun 2010
Date of revision:
Handle: RePEc:adl:wpaper:2010-12

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Related research

Keywords: contagion; networks; coordination games; scale-free; small-worlds; best response; imitation;

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  1. Dunia López-Pintado, 2006. "Contagion and coordination in random networks," International Journal of Game Theory, Springer, vol. 34(3), pages 371-381, October.
  2. Alós-Ferrer, Carlos & Weidenholzer, Simon, 2008. "Contagion and efficiency," Journal of Economic Theory, Elsevier, vol. 143(1), pages 251-274, November.
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