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Link bidding in laboratory networks

Author

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  • Cary Deck

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  • Cathleen Johnson

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Abstract

This paper presents the results of laboratory experiments that explore the network formation process. Performances of three institutions, each derived from theoretical models found in the literature, are compared. All three institutions are found to generate similar levels of efficiency. In hospitable environments, the institutions achieve 85% efficiency, but all three fail to generate any positive surplus when stress tested. Copyright Springer-Verlag Berlin/Heidelberg 2004

Suggested Citation

  • Cary Deck & Cathleen Johnson, 2004. "Link bidding in laboratory networks," Review of Economic Design, Springer;Society for Economic Design, vol. 8(4), pages 359-372, April.
  • Handle: RePEc:spr:reecde:v:8:y:2004:i:4:p:359-372
    DOI: 10.1007/s10058-003-0108-9
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    Citations

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    Cited by:

    1. Rong, Rong & Houser, Daniel, 2015. "Growing stars: A laboratory analysis of network formation," Journal of Economic Behavior & Organization, Elsevier, vol. 117(C), pages 380-394.
    2. Rajgopal Kannan & Lydia Ray & Sudipta Sarangi, 2007. "The structure of information networks," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 30(1), pages 119-134, January.
    3. repec:eee:jeborg:v:145:y:2018:i:c:p:567-591 is not listed on IDEAS
    4. Shu-Heng Chen & Bin-Tzong Chie & Tong Zhang, 2015. "Network-Based Trust Games: An Agent-Based Model," Journal of Artificial Societies and Social Simulation, Journal of Artificial Societies and Social Simulation, vol. 18(3), pages 1-5.
    5. Harmsen-van Hout, Marjolein J.W. & Dellaert, Benedict G.C. & Herings, P. Jean-Jacques, 2008. "Behavorial Effects in Individual Decisions of Network Formation," Research Memorandum 019, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    6. Takács, Károly, 2010. "Hálózati kísérletek
      [Network experiments]
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(11), pages 958-979.
    7. Andrew Kloosterman, 2016. "Directed search with heterogeneous firms: an experimental study," Experimental Economics, Springer;Economic Science Association, vol. 19(1), pages 51-66, March.
    8. Huck, Steffen & Lünser, Gabriele K. & Tyran, Jean-Robert, 2012. "Competition fosters trust," Games and Economic Behavior, Elsevier, vol. 76(1), pages 195-209.
    9. Michael Kosfeld, "undated". "Network Experiments," IEW - Working Papers 152, Institute for Empirical Research in Economics - University of Zurich.
    10. Comola, Margherita & Fafchamps, Marcel, 2018. "An experimental study on decentralized networked markets," Journal of Economic Behavior & Organization, Elsevier, vol. 145(C), pages 567-591.
    11. Pablo Brañas-Garza & Ramón Cobo-Reyes & Natalia Jiménez & Giovanni Ponti, 2005. "An experimental device to elicit social networks," ThE Papers 05/19, Department of Economic Theory and Economic History of the University of Granada..
    12. Gary Charness & Francesco Feri & Miguel A. Meléndez‐Jiménez & Matthias Sutter, 2014. "Experimental Games on Networks: Underpinnings of Behavior and Equilibrium Selection," Econometrica, Econometric Society, vol. 82, pages 1615-1670, September.
    13. Anna Conte & Daniela T. Di Cagno & Emanuela Sciubba, 2015. "Behavioral Patterns In Social Networks," Economic Inquiry, Western Economic Association International, vol. 53(2), pages 1331-1349, April.
    14. Harmsen - van Hout, Marjolein J.W. & Dellaert, Benedict G.C. & Herings, P. Jean-Jacques, 2016. "Heuristic decision making in network linking," European Journal of Operational Research, Elsevier, vol. 251(1), pages 158-170.
    15. Siegfried Berninghaus & Karl-Martin Ehrhart & Marion Ott & Bodo Vogt, 2007. "Evolution of networks—an experimental analysis," Journal of Evolutionary Economics, Springer, vol. 17(3), pages 317-347, June.
    16. Tomohiro Hayashida & Ichiro Nishizaki & Rika Kambara, 2014. "Simulation Analysis for Network Formulation," Computational Economics, Springer;Society for Computational Economics, vol. 43(3), pages 371-394, March.
    17. Siegfried Berninghaus & Karl-Martin Ehrhart & Marion Ott, 2006. "A network experiment in continuous time: The influence of link costs," Experimental Economics, Springer;Economic Science Association, vol. 9(3), pages 237-251, September.
    18. Alexander Elbittar & Rodrigo Harrison & Roberto Muñoz, 2014. "Network Structure In A Link Formation Game: An Experimental Study," Economic Inquiry, Western Economic Association International, vol. 52(4), pages 1341-1363, October.
    19. Cassar, Alessandra & Rigdon, Mary, 2011. "Trust and trustworthiness in networked exchange," Games and Economic Behavior, Elsevier, vol. 71(2), pages 282-303, March.
    20. Holt, Charles A. & Johnson, Cathleen & Mallow, Courtney & Sullivan, Sean P., 2010. "Tragedy of the common canal," MPRA Paper 20838, University Library of Munich, Germany.
    21. Di Cagno, Daniela & Sciubba, Emanuela, 2010. "Trust, trustworthiness and social networks: Playing a trust game when networks are formed in the lab," Journal of Economic Behavior & Organization, Elsevier, vol. 75(2), pages 156-167, August.
    22. Margherita Comola & Marcel Fafchamps, 2015. "An Experimental Study of Decentralized Link Formation with Competition," NBER Working Papers 21758, National Bureau of Economic Research, Inc.
    23. Doğan, Gönül & van Assen, Marcel & Potters, Jan, 2013. "The effect of link costs on simple buyer–seller networks," Games and Economic Behavior, Elsevier, vol. 77(1), pages 229-246.

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