A Limit Theorem for Systems of Social Interactions
AbstractIn this paper, we establish a convergence result for equilibria in systems of social interactions with many locally and globally interacting players. Assuming spacial homogeneity and that interactions between different agents are not too strong, we show that equilibria of systems with finitely many players converge to the unique equilibrium of a benchmark system with infinitely many agents. We prove convergence of individual actions and of average behavior. Our results also apply to a class of interaction games.
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Bibliographic InfoPaper provided by UCLA Department of Economics in its series Levine's Bibliography with number 321307000000000177.
Date of creation: 15 Jul 2006
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Other versions of this item:
- Horst, Ulrich & Scheinkman, José A., 2009. "A limit theorem for systems of social interactions," Journal of Mathematical Economics, Elsevier, vol. 45(9-10), pages 609-623, September.
- NEP-ALL-2006-07-21 (All new papers)
- NEP-CDM-2006-07-21 (Collective Decision-Making)
- NEP-NET-2006-07-21 (Network Economics)
- NEP-SOC-2006-07-21 (Social Norms & Social Capital)
- NEP-URE-2006-07-21 (Urban & Real Estate Economics)
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