Strategic Interaction and Networks

• 成果类型: Article
• 署名作者: Bramoulle, Yann; Kranton, Rachel; D'Amours, Martin
• 署名单位: Aix-Marseille Universite; Centre National de la Recherche Scientifique (CNRS); Laval University; Duke University
• 刊物名称: AMERICAN ECONOMIC REVIEW
• ISSN/ISSBN: 0002-8282
• DOI: 10.1257/aer.104.3.898
• 发表日期: 2014
• 页码: 898-930
• 关键词: research-and-development; LEAST EIGENVALUE; social networks; spillovers; identification; graphs; crime; localization; equilibria; decisions

摘要

Geography and social links shape economic interactions. In industries, schools, and markets, the entire network determines outcomes. This paper analyzes a large class of games and obtains a striking result. Equilibria depend on a single network measure: the lowest eigenvalue. This paper is the first to uncover the importance of the lowest eigenvalue to economic and social outcomes. It captures how much the network amplifies agents' actions. The paper combines new tools-potential games, optimization, and spectral graph theory-to solve for all Nash and stable equilibria and applies the results to R&D, crime, and the econometrics of peer effects.