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Networks And Farsighted Stability

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  • Page Jr, Frank H
  • Wooders, Myrna H
  • Kamat, Samir

Abstract

The main contribution of this paper is to provide a framework in which the notion of farsighted stability for games, introduced by Chwe (1994), can be applied to direct networks. Then using Chwe's basic result on the nonemptiness of farsighted stable sets for games, we show that for any given collection of directed networks and any given collection of rules governing network formation, there exists a farsighted stable directed network.

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File URL: http://www2.warwick.ac.uk/fac/soc/economics/research/workingpapers/2008/twerp621.pdf
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Bibliographic Info

Paper provided by University of Warwick, Department of Economics in its series The Warwick Economics Research Paper Series (TWERPS) with number 621.

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Length: 9 pages
Date of creation: 2001
Date of revision:
Handle: RePEc:wrk:warwec:621

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  1. Dutta, Bhaskar & Ghosal, Sayantan & Ray, Debraj, 2005. "Farsighted network formation," Journal of Economic Theory, Elsevier, Elsevier, vol. 122(2), pages 143-164, June.
  2. Konishi, Hideo & Ray, Debraj, 2003. "Coalition formation as a dynamic process," Journal of Economic Theory, Elsevier, Elsevier, vol. 110(1), pages 1-41, May.
  3. BHATTACHARYA, Anindya & ZIAD, Abderrahmane, 2003. "On conservative stable standard of behaviour in situations with perfect foresight," CORE Discussion Papers, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) 2003049, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  4. Page Jr. Frank H & Wooders, Myrna & Kamat, Samir, 2003. "Networks and Farsighted Stability," The Warwick Economics Research Paper Series (TWERPS), University of Warwick, Department of Economics 689, University of Warwick, Department of Economics.
  5. Dutta, Bhaskar & Mutuswami, Suresh, 1997. "Stable Networks," Journal of Economic Theory, Elsevier, Elsevier, vol. 76(2), pages 322-344, October.
  6. Matthew O. Jackson, 2002. "The Stability and Efficiency of Economic and Social Networks," Microeconomics, EconWPA 0211011, EconWPA.
  7. Venkatesh Bala & Sanjeev Goyal, 2000. "A Noncooperative Model of Network Formation," Econometrica, Econometric Society, Econometric Society, vol. 68(5), pages 1181-1230, September.
  8. Chwe Michael Suk-Young, 1994. "Farsighted Coalitional Stability," Journal of Economic Theory, Elsevier, Elsevier, vol. 63(2), pages 299-325, August.
  9. Ana Mauleon & Vincent Vannetelbosch, 2003. "Farsightedness and Cautiousness in Coalition Formation," Working Papers, Fondazione Eni Enrico Mattei 2003.52, Fondazione Eni Enrico Mattei.
  10. Matthew O. Jackson & Asher Wolinsky, 1995. "A Strategic Model of Social and Economic Networks," Discussion Papers, Northwestern University, Center for Mathematical Studies in Economics and Management Science 1098R, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  11. Shapley, Lloyd S & Shubik, Martin, 1969. "On the Core of an Economic System with Externalities," American Economic Review, American Economic Association, American Economic Association, vol. 59(4), pages 678-84, Part I Se.
  12. Licun Xue, 1998. "Coalitional stability under perfect foresight," Economic Theory, Springer, Springer, vol. 11(3), pages 603-627.
  13. John C. Harsanyi, 1974. "An Equilibrium-Point Interpretation of Stable Sets and a Proposed Alternative Definition," Management Science, INFORMS, INFORMS, vol. 20(11), pages 1472-1495, July.
  14. Watts, Alison, 2002. "Non-myopic formation of circle networks," Economics Letters, Elsevier, Elsevier, vol. 74(2), pages 277-282, January.
  15. Watts, Alison, 2001. "A Dynamic Model of Network Formation," Games and Economic Behavior, Elsevier, Elsevier, vol. 34(2), pages 331-341, February.
  16. Li, Shuhe, 1992. "Far-sighted strong equilibrium and oligopoly," Economics Letters, Elsevier, Elsevier, vol. 40(1), pages 39-44, September.
  17. Deroian, Frederic, 2003. "Farsighted strategies in the formation of a communication network," Economics Letters, Elsevier, Elsevier, vol. 80(3), pages 343-349, September.
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