A Structural Model for the Coevolution of Networks and Behavior

• 成果类型: Article
• 署名作者: Hsieh, Chih-Sheng; Koenig, Michael D.; Liu, Xiaodong
• 署名单位: National Taiwan University; Center for Economic & Policy Research (CEPR); Swiss Federal Institutes of Technology Domain; ETH Zurich; Tinbergen Institute; Vrije Universiteit Amsterdam; University of Colorado System; University of Colorado Boulder
• 刊物名称: REVIEW OF ECONOMICS AND STATISTICS
• ISSN/ISSBN: 0034-6535
• DOI: 10.1162/rest_a_00958
• 发表日期: 2022-03
• 页码: 355-367
• 关键词: research-and-development; social-interaction models; Goodness-of-fit; interorganizational collaboration; identification; distributions; EVOLUTION; patterns; TRENDS

摘要

This paper introduces a structural model for the coevolution of networks and behavior. We characterize the equilibrium of the underlying game and adopt the Bayesian Double Metropolis-Hastings algorithm to estimate the model. We further extend the model to incorporate unobserved heterogeneity and show that ignoring this heterogeneity can lead to biased estimates in simulation experiments. We apply the model to study R&D investment and collaboration decisions in the chemical and pharmaceutical industry and find a positive knowledge spillover effect. Our model also provides a tractable framework for a long-run key player analysis.