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Network Formation With Endogenous Decay

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Author Info
Francesco Feri ()
Abstract

This paper considers a model of economic network characterized by an endogenous architecture and frictions in the relations among agents as described in Bala and Goyal (2000). We propose a similar network model with the difference that frictions in the relations among agents are endogenous. Frictions are modeled as dependent on the result of a coordination game, played by every pair of directly linked agents and characterized by 2 equilibria: one efficient and the other risk dominant. The model has a multiplicity of equilibria and we produce a characterization of those are stochastically stable.

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Paper provided by Faculty of Economics and Statistics, University of Innsbruck in its series Working Papers with number 2007-14.

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Length: 37
Date of creation: Jun 2007
Date of revision:
Handle: RePEc:inn:wpaper:2007-14

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Related research
Keywords: Network; Decay; Strategic Interaction;

Find related papers by JEL classification:
A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
D20 - Microeconomics - - Production and Organizations - - - General
J00 - Labor and Demographic Economics - - General - - - General

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  1. Francesco Feri & Miguel A.Meléndez-Jiménez, 2009. "Coordination in Evolving Networks with Endogenous Decay," Working Papers 2009-19, Faculty of Economics and Statistics, University of Innsbruck. [Downloadable!]
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This page was last updated on 2009-12-3.

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