A Theory of Value Distribution in Social Exchange Networks
نویسندگان
چکیده
This paper considers the value distribution in an arbitrary exogenously given social exchange network, where any two linked nodes can potentially generate one unit of surplus. A value distribution solution is a mapping that associates a value distribution outcome with each social exchange network. We impose a consistency condition on the value distribution solution. We find that there is a unique value distribution solution that satisfies the consistency condition. As regards some simple networks that are frequently analyzed in the literature, the theoretical prediction based on our solution fits the experimental data very well. Finally, a strategic procedure is proposed to support the solution.
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