On the Equilibrium Properties of Network Models with Heterogeneous Agents

Treb Allen, Costas Arkolakis and Xiangliang Li

No 27837, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We consider a broad class of spatial models where there are many types of interactions across a large number of locations. We provide a new theorem that offers an iterative algorithm for calculating an equilibrium and sufficient and “globally necessary” conditions under which the equilibrium is unique. We show how this theorem enables the characterization of equilibrium properties for two important spatial systems: an urban model with spillovers across a large number of different types of agents and a dynamic migration model with forward looking agents. An Online Appendix provides eleven additional examples of both spatial and non-spatial economic frameworks for which our theorem provides new equilibrium characterizations.

JEL-codes: C6 D85 E23 F4 O18 R13 (search for similar items in EconPapers)
Date: 2020-09
New Economics Papers: this item is included in nep-gth, nep-net, nep-ore and nep-ure
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