Bandwagon effects and constrained network formation

• 成果类型: Article
• 署名作者: Cui, Zhiwei; Shi, Fei
• 署名单位: Renmin University of China; Shanghai Jiao Tong University
• 刊物名称: GAMES AND ECONOMIC BEHAVIOR
• ISSN/ISSBN: 0899-8256
• DOI: 10.1016/j.geb.2022.03.014
• 发表日期: 2022
• 页码: 37-51
• 关键词: Bandwagon effects; coordination games; learning; network formation

摘要

We consider a model where players can actively form a limited number of links with other players to play a general class of size-dependent coordination games. This class of games includes multi-person binary action coordination games, minimum effort games, average opinion games, and others, and it is mainly characterized by strategic complementarities among actions. Whenever players may only support links to a relatively small number of other players, the most efficient convention will be selected, irrespective of the details of the size-dependent coordination games. When the linking constraint becomes less restrictive, the most efficient convention will still be selected, provided that the most efficient action delivers a relatively high output when played against a small group also using it. Furthermore, for the special case of size-dependent minimum effort games, the second most efficient convention may be selected. (C) 2022 Elsevier Inc. All rights reserved.