A connections model with decreasing returns link-formation technology
dc.contributor.author | Olaizola Ortega, María Norma ![]() | |
dc.contributor.author | Valenciano Llovera, Federico ![]() | |
dc.date.accessioned | 2023-03-23T18:17:10Z | |
dc.date.available | 2023-03-23T18:17:10Z | |
dc.date.issued | 2023-03 | |
dc.identifier.citation | SERIEs 14(1) : 31-61 (2023) | es_ES |
dc.identifier.issn | 1869-4187 | |
dc.identifier.issn | 1869-4195 | |
dc.identifier.uri | http://hdl.handle.net/10810/60473 | |
dc.description.abstract | We study a connections model where the strength of a link depends on the amount invested in it and is determined by an increasing strictly concave function. The revenue from investments in links is the value (information, contacts, friendship) that the nodes receive through the network. First, assuming that links are the result of investments by the node-players involved, there is the question of stability. We introduce and characterize a notion of marginal equilibrium, where all nodes play locally best responses, and identify different marginally stable structures. This notion is based on weak assumptions about node-players’ information and is necessary for Nash equilibrium and for pairwise stability. Second, efficient networks in absolute terms are characterized. Efficiency and stability are shown to be incompatible, but partial subsidizing is shown to be able to bridge the gap. | es_ES |
dc.description.sponsorship | We thank Coralio Ballester, Arnold Polanski, two anonymous referees and the editor for their helpful comments. This research is supported by the Spanish Ministerio de Economia y Competitividad under project PID2019-106146GB-I00 and by the Basque Government Departamento de Educacion, Politica Linguistica y Cultura funding for Grupos Consolidados IT1367-19. | es_ES |
dc.language.iso | eng | es_ES |
dc.publisher | Springer | es_ES |
dc.relation | info:eu-repo/grantAgreement/MICINN/PID2019-106146GB-I00 | es_ES |
dc.rights | info:eu-repo/semantics/openAccess | es_ES |
dc.rights.uri | http://creativecommons.org/licenses/by/3.0/es/ | * |
dc.subject | networks | es_ES |
dc.subject | connections model | es_ES |
dc.subject | decreasing returns | es_ES |
dc.subject | efficiency | es_ES |
dc.subject | stability | es_ES |
dc.title | A connections model with decreasing returns link-formation technology | es_ES |
dc.type | info:eu-repo/semantics/article | es_ES |
dc.rights.holder | © The Author(s) 2022. This article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. The images or other third party material in this article are included in the article’s Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article’s Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/. | es_ES |
dc.rights.holder | Atribución 3.0 España | * |
dc.relation.publisherversion | https://link.springer.com/article/10.1007/s13209-022-00266-8 | es_ES |
dc.identifier.doi | 10.1007/s13209-022-00266-8 | |
dc.departamentoes | Análisis Económico | es_ES |
dc.departamentoeu | Analisi Ekonomikoa | es_ES |
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Except where otherwise noted, this item's license is described as © The Author(s) 2022. This article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. The images or other third party material in this article are included in the article’s Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article’s Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/.