Network structures are graphs where the nodes represent agents and an arc exists between two nodes if corresponding agents interact bilaterally. Jackson and Wolinsky demonstrate a potential conflict between efficiency and stability of networks if self-interested agents can choose to form new links or severe existing links. The main results of this paper uses an implementation approach to examine this conflict between efficiency and stability of networks. Our results suggest that the tension between stability and efficiency can be reconciled.
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Dutta, Bhaskar & Mutuswami, Suresh, 1996.
"Stable Networks,"
Working Papers
971, California Institute of Technology, Division of the Humanities and Social Sciences.
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