Artikel
Social activity and network formation
This paper develops a simple model in which a social hierarchy emerges endogenously when agents form a network for complementary interaction (``activity''). Specifically, we assume that agents are ex ante identical and their best response activity, as well as their value function, increases (strictly) concavely in the total activity of their neighbours in the network. There exists a unique and stable positive activity equilibrium on exogenous networks under mild conditions. When we endogenise network formation, equilibria become strongly structured: more active players have more neighbours, i.e. a higher degree, but tend to sponsor fewer links. Additionally, in strict equilibria agents separate themselves into groups characterised by the symmetric activity of their members. The characteristic activity decreases in group size and the network is a complete multipartite graph.
- Sprache
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Englisch
- Erschienen in
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Journal: Theoretical Economics ; ISSN: 1555-7561 ; Volume: 10 ; Year: 2015 ; Issue: 2 ; Pages: 315-340 ; New Haven, CT: The Econometric Society
- Klassifikation
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Wirtschaft
Noncooperative Games
Microeconomics: General
Network Formation and Analysis: Theory
- Thema
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Network formation
strategic complementarity
supermodularity
peer effects
social hierarchy
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Baetz, Oliver
- Ereignis
-
Veröffentlichung
- (wer)
-
The Econometric Society
- (wo)
-
New Haven, CT
- (wann)
-
2015
- DOI
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doi:10.3982/TE1487
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
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Objekttyp
- Artikel
Beteiligte
- Baetz, Oliver
- The Econometric Society
Entstanden
- 2015
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