Over the past couple of decades it has become more and more recognised in economics that socio-economic institutions are essential for the functioning of the economy. This research has emanated from the seminal work of Douglas North in his study of various economic systems throughout economic history and of Ronald Coase in the understanding of…
Category: Changes to site
New paper on partial cooperation
I just added a new working paper on partial cooperation in non-cooperative games on the economic theory page. It addresses how to consider a group of decision makers to coordinate certain strategic actions, while all other actions remain purely non-cooperative. The paper generalises the existing contributions to this partial cooperation problem to include more complex…
New paper posted
I have posted a new paper, co-authored by Owen Sims, on critical nodes in directed networks. It addresses the appropriate definition of what exactly critical nodes or middlemen are in the general class of directed networks. We also discuss the link with contestability in networks. Visit the network analysis page for more information and PDF…
Thinking about networks and platforms
I just posted a new paper with Dimitrios Diamantaras on how middlemen compete in a network environment. We view a middleman here as an explicit provider of a two-sided interaction platform. FRom that a theory of competitive behaviour is developed as ambiguous decision making in a game theoretic framework. Here the middleman is ambiguous whether…
Thinking about the consequences of economic networks
I just posted a new paper on multilateral matching in network economies on the game theory page. This paper is co-authored with Emiliya Lazarova (University of Birmingham) and Pieter Ruys (Tilburg University). This paper investigates a network economy in which economic agents are connected within a structure of value-generating relationships. Agents are assumed to be…
Investigating network formation under mutual consent
It seems to me there is a lack of game-theoretic modelling of network formation under mutual consent in the relationship building process. To model such a process of mutual consent is rather difficult. The simplest model from the literature is Myerson’s network formation game in which all individuals announce which links they want to build….