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Network formation under mutual consent and costly communication

  • Gilles, Robert P.
  • Sarangi, Sudipta

We consider two different approaches to describe the formation of social networks under mutual consent and costly communication. First, we consider a network-based approach; in particular Jackson-Wolinsky's concept of pairwise stability. Next, we discuss a non-cooperative game-theoretic approach, through a refinement of the Nash equilibria of Myerson's consent game. This refinement, denoted as monadic stability, describes myopically forward looking behavior of the players. We show through an equivalence that the class of monadically stable networks is a strict subset of the class of pairwise stable networks that can be characterized fully by modifications of the properties defining pairwise stability.

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File URL: http://www.sciencedirect.com/science/article/B6V88-50THX63-2/2/f35e423b85b27880a3c792fedc70f76d
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Article provided by Elsevier in its journal Mathematical Social Sciences.

Volume (Year): 60 (2010)
Issue (Month): 3 (November)
Pages: 181-185

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Handle: RePEc:eee:matsoc:v:60:y:2010:i:3:p:181-185
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/505565

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  1. Herings, P. Jean-Jacques & Mauleon, Ana & Vannetelbosch, Vincent, 2009. "Farsightedly stable networks," Games and Economic Behavior, Elsevier, vol. 67(2), pages 526-541, November.
  2. Matthew O. Jackson & Asher Wolinsky, 1994. "A Strategic Model of Social and Economic Networks," Discussion Papers 1098, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  3. Samir Kamat & Frank Page & Myrna Wooders, 2004. "Networks and Farsighted Stability," Econometric Society 2004 North American Winter Meetings 561, Econometric Society.
  4. Matthew O. Jackson, 2001. "Strongly Stable Networks," University of Oregon Economics Department Working Papers 2001-3, University of Oregon Economics Department, revised 15 Nov 2002.
  5. Bhaskar Dutta & Sayantan Ghosal & Debraj Ray, 2004. "Farsighted Network Formation," Working papers 122, Centre for Development Economics, Delhi School of Economics.
  6. Monderer, Dov & Shapley, Lloyd S., 1996. "Potential Games," Games and Economic Behavior, Elsevier, vol. 14(1), pages 124-143, May.
  7. Bloch, Francis & Jackson, Matthew, 2004. "The Formation of Networks with Transfers among Players," Working Papers 1194, California Institute of Technology, Division of the Humanities and Social Sciences.
  8. Jackson, Matthew O., 1998. "The Evolution of Social and Economic Networks," Working Papers 1044, California Institute of Technology, Division of the Humanities and Social Sciences.
  9. Subhadip Chakrabarti & Robert Gilles, 2007. "Network potentials," Review of Economic Design, Springer, vol. 11(1), pages 13-52, June.
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