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Constrained Interactions and Social Coordination

We consider a co-evolutionary model of social coordination and network formation whereagents may decide on an action in a 2 x 2- coordination game and on whom to establish costly links to. We find that a payoff dominant convention is selected for a wider parameter range when agents may only support a limited number of links as compared to a scenario where agents are not constrained in their linking choice. The main reason behind this result is that constrained interactions create a tradeoff between the interactions an agent has and those he would rather have. Further, we discuss convex linking costs and provide suffcient conditions for the payoff dominant convention to be selected in mxm coordination games.

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File URL: http://homepage.univie.ac.at/Papers.Econ/RePEc/vie/viennp/vie1004.pdf
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Paper provided by University of Vienna, Department of Economics in its series Vienna Economics Papers with number 1004.

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Date of creation: Mar 2010
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Handle: RePEc:vie:viennp:1004
Contact details of provider: Web page: http://www.univie.ac.at/vwl

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  1. Sanjeev Goyal & Marco van der Leij & José Luis Moraga Gonzales, 2004. "Economics: An Emerging Small World?," CESifo Working Paper Series 1287, CESifo Group Munich.
  2. Bhaskar, V. & Vega-Redondo, Fernando, 2004. "Migration and the evolution of conventions," Journal of Economic Behavior & Organization, Elsevier, vol. 55(3), pages 397-418, November.
  3. M. Kandori & G. Mailath & R. Rob, 1999. "Learning, Mutation and Long Run Equilibria in Games," Levine's Working Paper Archive 500, David K. Levine.
  4. Hojman, Daniel & Szeidl, Adam, 2006. "Core and Periphery in Endogenous Networks," Working Paper Series rwp06-022, Harvard University, John F. Kennedy School of Government.
  5. Bhaskar Dutta & Matthew O. Jackson & Michel Le Breton, 2004. "Equilibrium agenda formation," Social Choice and Welfare, Springer, vol. 23(1), pages 21-57, 08.
  6. Sanjeev Goyal & Fernando Vega-Redondo, 2003. "Network Formation and Social Coordination," Working Papers 481, Queen Mary University of London, School of Economics and Finance.
  7. Joerg Oechssler, 1994. "Decentralization and the Coordination Problem," Game Theory and Information 9403004, EconWPA.
  8. Sandholm, William H., 1998. "Simple and clever decision rules for a model of evolution," Economics Letters, Elsevier, vol. 61(2), pages 165-170, November.
  9. Eshel, Ilan & Samuelson, Larry & Shaked, Avner, 1998. "Altruists, Egoists, and Hooligans in a Local Interaction Model," American Economic Review, American Economic Association, vol. 88(1), pages 157-79, March.
  10. Venkatesh Bala & Sanjeev Goyal, 2000. "A Noncooperative Model of Network Formation," Econometrica, Econometric Society, vol. 68(5), pages 1181-1230, September.
  11. Anwar, A. W., 2002. "On the Co-existence of Conventions," Journal of Economic Theory, Elsevier, vol. 107(1), pages 145-155, November.
  12. Kandori Michihiro & Rob Rafael, 1995. "Evolution of Equilibria in the Long Run: A General Theory and Applications," Journal of Economic Theory, Elsevier, vol. 65(2), pages 383-414, April.
  13. Glen Ellison, 2010. "Learning, Local Interaction, and Coordination," Levine's Working Paper Archive 391, David K. Levine.
  14. Mathias Staudigl, 2010. "Potential games in volatile environments," Vienna Economics Papers 1002, University of Vienna, Department of Economics.
  15. Watts, Alison, 2002. "Non-myopic formation of circle networks," Economics Letters, Elsevier, vol. 74(2), pages 277-282, January.
  16. Hojman, Daniel A. & Szeidl, Adam, 2006. "Endogenous networks, social games, and evolution," Games and Economic Behavior, Elsevier, vol. 55(1), pages 112-130, April.
  17. Dieckmann, Tone, 1999. "The evolution of conventions with mobile players," Journal of Economic Behavior & Organization, Elsevier, vol. 38(1), pages 93-111, January.
  18. John C. Harsanyi & Reinhard Selten, 1988. "A General Theory of Equilibrium Selection in Games," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262582384, June.
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