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Forming Efficient Networks

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  • David Pérez-Castrillo
  • David Wettstein

Abstract

In 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 Info

Paper provided by Barcelona Graduate School of Economics in its series Working Papers with number 123.

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Date of creation: Apr 2004
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Handle: RePEc:bge:wpaper:123

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Related research

Keywords: Networks; Implementation; Shapley Value;

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References

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  1. Sergio Currarini & Massimo Morelli, 2000. "original papers : Network formation with sequential demands," Review of Economic Design, Springer, vol. 5(3), pages 229-249.
  2. Matthew O. Jackson, 2003. "Allocation Rules for Network Games," Game Theory and Information 0303010, EconWPA.
  3. Suresh Mutuswami & Eyal Winter, 2001. "Subscription Mechanisms for Network Formation," Discussion Paper Series dp264, The Center for the Study of Rationality, Hebrew University, Jerusalem.
  4. David Pérez-Castrillo & David Wettstein, . "Bidding For The Surplus: A Non-Cooperative Approach To The Shapley Value," UFAE and IAE Working Papers 461.00, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  5. Matthew O. Jackson & Asher Wolinsky, 1995. "A Strategic Model of Social and Economic Networks," Discussion Papers 1098R, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  6. Dutta, Bhaskar & Mutuswami, Suresh, 1997. "Stable Networks," Journal of Economic Theory, Elsevier, vol. 76(2), pages 322-344, October.
    • Dutta, Bhaskar & Mutuswami, Suresh, 1996. "Stable Networks," Working Papers 971, California Institute of Technology, Division of the Humanities and Social Sciences.
  7. Mutuswami, Suresh & Perez-Castrillo, David & Wettstein, David, 2004. "Bidding for the surplus: realizing efficient outcomes in economic environments," Games and Economic Behavior, Elsevier, vol. 48(1), pages 111-123, July.
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Citations

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Cited by:
  1. Kamijo, Yoshio, 2008. "Implementation of weighted values in hierarchical and horizontal cooperation structures," Mathematical Social Sciences, Elsevier, vol. 56(3), pages 336-349, November.
  2. van den Brink, René & van der Laan, Gerard & Moes, Nigel, 2013. "A strategic implementation of the Average Tree solution for cycle-free graph games," Journal of Economic Theory, Elsevier, vol. 148(6), pages 2737-2748.
  3. Jean-François Caulier & Michel Grabisch & Agnieszka Rusinowska, 2013. "An allocation rule for dynamic random network formation processes," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00881125, HAL.
  4. Matsubayashi, Nobuo & Yamakawa, Shigetaka, 2006. "A note on network formation with decay," Economics Letters, Elsevier, vol. 93(3), pages 387-392, December.
  5. Slikker, Marco, 2007. "Bidding for surplus in network allocation problems," Journal of Economic Theory, Elsevier, vol. 137(1), pages 493-511, November.

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