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Autor:innen: 
Erscheinungsjahr: 
2007
Schriftenreihe/Nr.: 
Working Papers in Economics and Statistics No. 2007-14
Verlag: 
University of Innsbruck, Department of Public Finance, Innsbruck
Zusammenfassung: 
This paper considers a model of economic network characterized by an endogenous architecture and frictions in the relations among agents as described in Bala and Goyal (2000). We propose a similar network model with the difference that frictions in the relations among agents are endogenous. Frictions are modeled as dependent on the result of a coordination game, played by every pair of directly linked agents and characterized by 2 equilibria: one efficient and the other risk dominant. The model has a multiplicity of equilibria and we produce a characterization of those are stochastically stable.
Schlagwörter: 
network
decay
strategical interaction
JEL: 
A14
D20
J00
Dokumentart: 
Working Paper

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