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Costly Network Formation and Regular Equilibria

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  • Francesco De Sinopoli

    ()
    (Dipartimento di Scienze Economiche, Universita degli Studi di Verona)

  • Carlos Pimienta

    ()
    (School of Economics, The University of New South Wales)

Abstract

We prove that for generic network-formation games where players incur some strictly positive cost to propose links the number of Nash equilibria is finite. Furthermore all Nash equilibria are regular and, therefore, stable sets.

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File URL: http://research.economics.unsw.edu.au/RePEc/papers/2009-05.pdf
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Bibliographic Info

Paper provided by School of Economics, The University of New South Wales in its series Discussion Papers with number 2009-05.

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Length: 9 pages
Date of creation: Jun 2009
Date of revision:
Handle: RePEc:swe:wpaper:2009-05

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Keywords: Network-formation games; Regular equilibrium; Stable sets;

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  1. Mertens, J.-F., 1988. "Stable equilibria - a reformulation," CORE Discussion Papers 1988038, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. De Sinopoli, Francesco, 2001. "On the Generic Finiteness of Equilibrium Outcomes in Plurality Games," Games and Economic Behavior, Elsevier, vol. 34(2), pages 270-286, February.
  3. Jackson, Matthew O. & Wolinsky, Asher, 1996. "A Strategic Model of Social and Economic Networks," Journal of Economic Theory, Elsevier, vol. 71(1), pages 44-74, October.
  4. Francesco Sinopoli & Giovanna Iannantuoni, 2005. "On the generic strategic stability of Nash equilibria if voting is costly," Economic Theory, Springer, vol. 25(2), pages 477-486, 02.
  5. Antoni Calvó-Armengol & Rahmi Ilkiliç, 2004. "Pairwise-Stability and Nash Equilibria in Network Formation," Working Papers 182, Barcelona Graduate School of Economics.
  6. Govindan, S & McLennan, A, 1997. "On the Generic Finiteness of Equilibrium Outcome Distributions in Game Forms," Papers 299, Minnesota - Center for Economic Research.
  7. Park, I.U., 1993. "Generic Finiteness of Equilibrium Outcome Distribution for Sender Receiver Cheap-Talk Games," Papers 269, Minnesota - Center for Economic Research.
  8. Carlos Pimienta, 2007. "Generic Determinacy of Nash Equilibrium in Network Formation Games," Discussion Papers 2007-31, School of Economics, The University of New South Wales.
  9. Venkatesh Bala & Sanjeev Goyal, 2000. "A Noncooperative Model of Network Formation," Econometrica, Econometric Society, vol. 68(5), pages 1181-1230, September.
  10. Calvo-Armengol, Antoni, 2004. "Job contact networks," Journal of Economic Theory, Elsevier, vol. 115(1), pages 191-206, March.
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