The Grass is Always Greener on the Other Side of the Fence: The Effect of Misperceived Signalling in a Network Formation Process
Simone Giansante (),
Alan Kirman,
Sheri Markose and
Paolo Pin
Additional contact information
Simone Giansante: University of Essex
Chapter 16 in Artificial Markets Modeling, 2007, pp 223-234 from Springer
Abstract:
Abstract Social and economic networks are becoming increasingly popular in the last ten years, because of both the application of game theory to the network formation processes4, and the study of stochastic processes that fit the statistical properties of real world social networks.5 In the very recent years there have also been attempts to combine the contribution of these two streams of research, trying to find strategic models whose equilibria resemble the empirical data.6 A well known source of debate in the game theoretical approach is the incompatibility between stability and efficiency: in most of the models Nash equilibria are actually not the network architectures that maximize the overall sum of utilities, as surveyed in Jackson (2003). On the other hand the econophysics approach is not interested in the utility of single nodes but has other measures of efficiency, which are essentially the probabilities of the network to maintain certain properties after random deletion of links or nodes.
Keywords: Nash Equilibrium; Network Formation; Link Capacity; Heuristic Optimization; Game Theoretical Approach (search for similar items in EconPapers)
Date: 2007
References: Add references at CitEc
Citations:
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:spr:lnechp:978-3-540-73135-1_16
Ordering information: This item can be ordered from
http://www.springer.com/9783540731351
DOI: 10.1007/978-3-540-73135-1_16
Access Statistics for this chapter
More chapters in Lecture Notes in Economics and Mathematical Systems from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().