Stochastic stability in networks with decay
نویسنده
چکیده
This paper considers a stylized model of network formation in which relations among agents are subject to frictions, as described in Bala and Goyal [A non cooperative model of network formation, Econometrica 68 (2000) 1181–1231]. We analyze the process of network formation in a dynamic framework where selfinterested individuals can form or delete links and, occasionally, make mistakes. Then, using stochastic stability, we identify the network structures to which the formation process will converge. © 2006 Elsevier Inc. All rights reserved. JEL classification: A14; D20; J00
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ورودعنوان ژورنال:
- J. Economic Theory
دوره 135 شماره
صفحات -
تاریخ انتشار 2007