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What Goes Around Comes Around: A Theory of Indirect Reciprocity in Networks

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  • Mihm, Maximilian

    (Cornell University)

  • Toth, Russell

    (Cornell University)

  • Lang, Corey

    (Cornell University)

Abstract

We consider strategic interaction on a network of heterogeneous long-term relationships. The bilateral relationships are independent of each other in terms of actions and realized payoffs, and we assume that information regarding outcomes is private to the two parties involved. In spite of this, the network can induce strategic interdependencies between relationships, which facilitate efficient outcomes. We derive necessary and sufficient conditions that characterize efficient equilibria of the network game in terms of the architecture of the underlying network, and interpret these structural conditions in light of empirical regularities observed in many social and economic networks.

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Bibliographic Info

Paper provided by Cornell University, Center for Analytic Economics in its series Working Papers with number 09-07.

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Date of creation: Aug 2009
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Handle: RePEc:ecl:corcae:09-07

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Cited by:
  1. Itay P. Fainmesser & David A. Goldberg, 2011. "Bilateral and Community Enforcement in a Networked Market with Simple Strategies," Working Papers 2011-2, Brown University, Department of Economics.
  2. Matthew O. Jackson & Tomas Rodriguez-Barraquer & Xu Tan, 2012. "Social Capital and Social Quilts: Network Patterns of Favor Exchange," American Economic Review, American Economic Association, vol. 102(5), pages 1857-97, August.
  3. Itay P. Fainmesser, 2012. "Community Structure and Market Outcomes: A Repeated Games-in-Networks Approach," American Economic Journal: Microeconomics, American Economic Association, vol. 4(1), pages 32-69, February.
  4. Yossi Feinberg & Willemien Kets, 2012. "Ranking Friends," Discussion Papers 1557, Northwestern University, Center for Mathematical Studies in Economics and Management Science.

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