Constrained Interactions and Social Coordination
AbstractWe consider a co-evolutionary model of social coordination and network formation where agents may decide on an action in a 2x2 - coordination game and on whom to establish costly links to. We fi nd that a payo ff dominant convention is selected for a wider parameter range when agents may only support a limited number of links as compared to a scenario where agents are not constrained in their linking choice. The main reason behind this result is that under constrained interactions agents face a trade-off between the links they have and those they would rather have. --
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Bibliographic InfoPaper provided by Verein für Socialpolitik / German Economic Association in its series Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order with number 79822.
Date of creation: 2013
Date of revision:
Other versions of this item:
- Mathias Staudigl & Simon Weidenholzer, 2010. "Constrained Interactions and Social Coordination," Vienna Economics Papers 1004, University of Vienna, Department of Economics.
- Mathias Staudigl & Simon Weidenholzer, 2014. "Constrained Interactions and Social Coordination," Economics Discussion Papers 747, University of Essex, Department of Economics.
- C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- D85 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Network Formation
This paper has been announced in the following NEP Reports:
- NEP-ALL-2014-02-02 (All new papers)
- NEP-GTH-2014-02-02 (Game Theory)
- NEP-MIC-2014-02-02 (Microeconomics)
- NEP-NET-2014-02-02 (Network Economics)
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