Efficiency of network structures: The needle in the haystack
AbstractThe modelling of networks formation has recently became the object of an increasing interest in economics. One of the important issues raised in this literature is the one of networks efficiency. Nevertheless, for non trivial payoff functions, searching for efficient network structures turns out to be a very difficult analytical problem as well as a huge computational task, even for a relatively small number of agents. In this paper, we explore the possibility of using genetic algorithms (GA) techniques for identifying efficient network structures, because the GA have proved their power as a tool for solving complex optimization problems. The robustness of this method in predicting optimal network structures is tested on two simple stylized models introduced by Jackson and Wolinski (1996), for which the efficient networks are known over the whole state space of parameter values.
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Bibliographic InfoPaper provided by Groupement de Recherches Economiques et Sociales in its series Cahiers du GRES with number 2005-06.
Date of creation: 2005
Date of revision:
Networks; Optimal network structure; Efficiency; Genetic Algorithms;
Find related papers by JEL classification:
- D85 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Network Formation
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
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- Möbert, Jochen, 2006. "Jefficiency vs. Efficiency in Social Network Models," Darmstadt Discussion Papers in Economics 36779, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute of Economics (VWL).
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