Forming efficient networks
In this paper, we suggest a simple sequential mechanism whose subgame perfect equilibria give rise to efficient networks. Moreover, the payoffs received by the agents coincide with their Shapley value in an appropriately defined cooperative game.
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- Mutuswami, Suresh & Perez-Castrillo, David & Wettstein, David, 2004. "Bidding for the surplus: realizing efficient outcomes in economic environments," Games and Economic Behavior, Elsevier, vol. 48(1), pages 111-123, July.
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- Perez-Castrillo, David & Wettstein, David, 2001. "Bidding for the Surplus : A Non-cooperative Approach to the Shapley Value," Journal of Economic Theory, Elsevier, vol. 100(2), pages 274-294, October.
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2003.51, Fondazione Eni Enrico Mattei.
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1098R, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Perea, Andrés & Navarro, Noemí, 2001. "Bargaining in networks and the myerson value," UC3M Working papers. Economics we016121, Universidad Carlos III de Madrid. Departamento de Economía.
- Sergio Currarini & Massimo Morelli, 2000. "original papers : Network formation with sequential demands," Review of Economic Design, Springer;Society for Economic Design, vol. 5(3), pages 229-249.
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