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Network Formation with Sequential Demands

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Abstract

This paper introduces a non-cooperative game-theoretic model of sequential network formation, in which players propose links and demand payoffs. Payoff division is therefore endogenous. We show that if the value of networks satisfies size-monotonicity, then each and every equilibrium network is efficient. Formation of networks satisfies size-monotonicity, then each and equilibrium network is efficient. Formation of networks through bilateral every negotiations (link-specific demands) and through absolute participation demands turn out to have the same efficiency properties. The result do not extend to the case in which players can only demand relative shares

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Bibliographic Info

Paper provided by Department of Economics, Royal Holloway University of London in its series Royal Holloway, University of London: Discussion Papers in Economics with number 99/2.

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Length: 33 pages
Date of creation: Feb 2000
Date of revision: Feb 2000
Handle: RePEc:hol:holodi:9902

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Related research

Keywords: Link Formation; Efficient Networks; Graphs; Payoff Division;

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Cited by:
  1. Navarro Prada, Noemí, . "Forward-looking Pairwise Stability in Networks with Externalities," IKERLANAK Ikerlanak;2013-71, Universidad del País Vasco - Departamento de Fundamentos del Análisis Económico I.
  2. Sanjeev Goyal, 2003. "Learning in Networks: a survey," Economics Discussion Papers 563, University of Essex, Department of Economics.
  3. Navarro Prada, Noemí, . "Expected Fair Allocation in Farsighted Network Formation," IKERLANAK IKerlanak;2013-70, Universidad del País Vasco - Departamento de Fundamentos del Análisis Económico I.

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