A Limit Theorem for Systems of Social Interactions
In this paper, we establish a convergence result for equilibria in systems of social interactions with many locally and globally interacting players. Assuming spacial homogeneity and that interactions between different agents are not too strong, we show that equilibria of systems with finitely many players converge to the unique equilibrium of a benchmark system with infinitely many agents. We prove convergence of individual actions and of average behavior. Our results also apply to a class of interaction games.
(This abstract was borrowed from another version of this item.)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Föllmer, Hans & Horst, Ulrich, 2001.
"Convergence of locally and globally interacting Markov chains,"
Stochastic Processes and their Applications,
Elsevier, vol. 96(1), pages 99-121, November.
- Föllmer, Hans & Horst, Ulrich, 2001. "Convergence of locally and globally interacting Markov chains," SFB 373 Discussion Papers 2001,21, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
- Stephen Morris & Hyun Song Shin, 2004.
"Heterogeneity and Uniqueness in Interaction Games,"
Yale School of Management Working Papers
ysm341, Yale School of Management.
- Stephen Morris, 1997.
"Interaction Games: A Unified Analysis of Incomplete Information, Local Interaction, and Random Matching,"
Research in Economics
97-08-072e, Santa Fe Institute.
- Stephen Morris, . ""Interaction Games: A Unified Analysis of Incomplete Information, Local Interaction and Random Matching''," CARESS Working Papres 97-02, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
- Stephen Morris, . "Interaction Games: A Unified Analysis of Incomplete Information, Local Interaction and Random Matching," Penn CARESS Working Papers 1879bf5487d743edef7f32bb2, Penn Economics Department.
- U. Horst & Jose A. Scheinkman, 2010.
"Equilibria in Systems of Social Interactions,"
Levine's Working Paper Archive
506439000000000119, David K. Levine.
- Edward L. Glaeser & Jose Scheinkman, 2000.
NBER Working Papers
8053, National Bureau of Economic Research, Inc.
- Edward L. Glaeser & Jose A. Scheinkman, 2001. "Non-Market Interactions," Harvard Institute of Economic Research Working Papers 1914, Harvard - Institute of Economic Research.
- Brock, William A & Durlauf, Steven N, 2001.
"Discrete Choice with Social Interactions,"
Review of Economic Studies,
Wiley Blackwell, vol. 68(2), pages 235-60, April.
When requesting a correction, please mention this item's handle: RePEc:cla:levrem:321307000000000177. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (David K. Levine)
If references are entirely missing, you can add them using this form.