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.
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2001,21, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
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"Equilibria in Systems of Social Interactions,"
Princeton Economic Theory Working Papers
d5a39039d26e0b08775b915bf, David K. Levine.
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"Heterogeneity and Uniqueness in Interaction Games,"
Yale School of Management Working Papers
ysm341, Yale School of Management.
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