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Inefficiencies in a model of spatial networks formation with positive externalities

[Zeitschriftenartikel]

Carayol, Nicolas; Roux, Pascale; Yıldızoğlu, Murat

Zitationshinweis

Bitte beziehen Sie sich beim Zitieren dieses Dokumentes immer auf folgenden Persistent Identifier (PID):http://nbn-resolving.de/urn:nbn:de:0168-ssoar-254620

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Abstract In this paper, we make an exploratory use of computational techniques (genetic algorithms and Monte Carlo simulations) to compute efficient and emergent networks in a spatialized version of the connections model of Jackson and Wolinski (Jackson, M.O., Wolinski, A., 1996. A strategic model of social and economic networks. Journal of Economic Theory 71, 44–74). This approach allows us to observe and discuss inefficiencies that arise in a strategic network formation context with imperfectly link-mediated positive externalities to connections and spatial link costs. Our results highlight that, depending on the strength of the externalities, emergent and efficient networks may share several structural properties. Nevertheless, emergent networks are insufficiently dense and should be more structured around central agents.
Klassifikation Volkswirtschaftslehre
Freie Schlagwörter Strategic network formation; Efficiency; Genetic algorithms; Monte Carlo simulations; D85; C63; D62; Z13
Sprache Dokument Englisch
Publikationsjahr 2008
Seitenangabe S. 495-511
Zeitschriftentitel Journal of Economic Behavior & Organization, 67 (2008) 2
DOI http://dx.doi.org/10.1016/j.jebo.2007.04.004
Status Postprint; begutachtet (peer reviewed)
Lizenz PEER Licence Agreement (applicable only to documents from PEER project)
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