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An allocation rule for dynamic random network formation processes

Most allocation rules for network games presented in the literature assume that the network structure is fixed. We put explicit emphasis on the construction of networks and examine the dynamic formation of networks whose evolution across time periods is stochastic. Time-series of networks are studied that describe processes of network formation where links may appear or disappear at any period. Moreover, convergence to an efficient network is not necessarily prescribed. Transitions from one network to another are random and yield a Markov chain. We propose the link-based allocation rule for such dynamic random network formation processes and provide its axiomatic characterization. By considering a monotone game and a particular (natural) network formation process we recover the link-based flexible network allocation rule of Jackson.

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Paper provided by Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne in its series Documents de travail du Centre d'Economie de la Sorbonne with number 13063.

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Length: 27 pages
Date of creation: Aug 2013
Date of revision:
Handle: RePEc:mse:cesdoc:13063
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  1. Hideo Konishi & Debraj Ray, 2000. "Coalition Formation as a Dynamic Process," Boston College Working Papers in Economics 478, Boston College Department of Economics, revised 15 Apr 2002.
  2. Dutta, Bhaskar & Mutuswami, Suresh, 1996. "Stable Networks," Working Papers 971, California Institute of Technology, Division of the Humanities and Social Sciences.
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  4. Dutta, Bhaskar & Ghosal, Sayantan & Ray, Debraj, 2005. "Farsighted network formation," Journal of Economic Theory, Elsevier, vol. 122(2), pages 143-164, June.
  5. Jackson, Matthew O. & Watts, Alison, 2002. "The Evolution of Social and Economic Networks," Journal of Economic Theory, Elsevier, vol. 106(2), pages 265-295, October.
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  10. Page Jr., Frank H. & Wooders, Myrna, 2007. "Networks and clubs," Journal of Economic Behavior & Organization, Elsevier, vol. 64(3-4), pages 406-425.
  11. David Pérez-Castrillo & David Wettstein, 2004. "Forming Efficient Networks," Working Papers 123, Barcelona Graduate School of Economics.
  12. David Pérez-Castrillo & David Wettstein, . "Bidding For The Surplus: A Non-Cooperative Approach To The Shapley Value," UFAE and IAE Working Papers 461.00, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  13. repec:hal:journl:halshs-00749950 is not listed on IDEAS
  14. Page Jr., Frank H. & Wooders, Myrna, 2010. "Club networks with multiple memberships and noncooperative stability," Games and Economic Behavior, Elsevier, vol. 70(1), pages 12-20, September.
  15. Jean-François, CAULIER & Ana, MAULEON & Vincent, VANNETELBOSCH, 2008. "Contractually stable networks," Discussion Papers (ECON - Département des Sciences Economiques) 2008045, Université catholique de Louvain, Département des Sciences Economiques.
  16. Hamiache, Gerard, 1999. "A Value with Incomplete Communication," Games and Economic Behavior, Elsevier, vol. 26(1), pages 59-78, January.
  17. repec:hal:cesptp:halshs-00749950 is not listed on IDEAS
  18. van den Nouweland, Anne & Slikker, Marco, 2012. "An axiomatic characterization of the position value for network situations," Mathematical Social Sciences, Elsevier, vol. 64(3), pages 266-271.
  19. Watts, Alison, 2002. "Non-myopic formation of circle networks," Economics Letters, Elsevier, vol. 74(2), pages 277-282, January.
  20. Slikker, Marco, 2007. "Bidding for surplus in network allocation problems," Journal of Economic Theory, Elsevier, vol. 137(1), pages 493-511, November.
  21. Watts, Alison, 2001. "A Dynamic Model of Network Formation," Games and Economic Behavior, Elsevier, vol. 34(2), pages 331-341, February.
  22. Ghintran, Amandine, 2013. "Weighted position values," Mathematical Social Sciences, Elsevier, vol. 65(3), pages 157-163.
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