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Size-dependent minimum-effort games and constrained interactions

Author

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  • Cui, Zhiwei
  • Jiang, Ge
  • Shi, Fei

Abstract

This paper develops a model in which agents choose a limited number of partners to play minimum-effort games. The payoff for each agent depends on the minimum of the efforts of her partners and herself, and increases with the size of her interaction neighborhood. We show that when agents interact with everyone with whom they have a link, whoever forms it, coordination on the lowest effort will be (uniquely) selected in the long run.

Suggested Citation

  • Cui, Zhiwei & Jiang, Ge & Shi, Fei, 2023. "Size-dependent minimum-effort games and constrained interactions," Economics Letters, Elsevier, vol. 223(C).
    • Handle: RePEc:eee:ecolet:v:223:y:2023:i:c:s0165176523000022
    DOI: 10.1016/j.econlet.2023.110977
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    References listed on IDEAS

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    1. Glenn Ellison, 2000. "Basins of Attraction, Long-Run Stochastic Stability, and the Speed of Step-by-Step Evolution," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 67(1), pages 17-45.
    2. Cui, Zhiwei & Shi, Fei, 2022. "Bandwagon effects and constrained network formation," Games and Economic Behavior, Elsevier, vol. 134(C), pages 37-51.
    3. repec:esx:essedp:747 is not listed on IDEAS
    4. Young, H Peyton, 1993. "The Evolution of Conventions," Econometrica, Econometric Society, vol. 61(1), pages 57-84, January.
    5. Kandori, Michihiro & Mailath, George J & Rob, Rafael, 1993. "Learning, Mutation, and Long Run Equilibria in Games," Econometrica, Econometric Society, vol. 61(1), pages 29-56, January.
    6. Ennio Bilancini & Leonardo Boncinelli, 2018. "Social coordination with locally observable types," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 65(4), pages 975-1009, June.
    7. Alós-Ferrer, Carlos & Weidenholzer, Simon, 2014. "Imitation and the role of information in overcoming coordination failures," Games and Economic Behavior, Elsevier, vol. 87(C), pages 397-411.
    8. Cui, Zhiwei & Weidenholzer, Simon, 2021. "Lock-in through passive connections," Journal of Economic Theory, Elsevier, vol. 192(C).
    9. Staudigl, Mathias & Weidenholzer, Simon, 2014. "Constrained interactions and social coordination," Journal of Economic Theory, Elsevier, vol. 152(C), pages 41-63.
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    Cited by:

    1. Lu, Feifei, 2023. "Local information hinders coordination in endogenous networks," Economics Letters, Elsevier, vol. 223(C).

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    More about this item

    Keywords

    Minimum-effort games; Network formation; Myopic best-response learning;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • D85 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Network Formation

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