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Limited Observation in Mutual Consent Networks

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  • McBride Michael

    (UC Irvine)

Abstract

This paper studies mutual consent social networks in which individuals imperfectly monitor others' network ties and have incomplete information about the benefits of network participation. I introduce the Conjectural Pairwise Stability concept, which generalizes Jackson and Wolinsky's (1996) Pairwise Stability concept to allow for limited observation, and apply it to a specific mutual consent network formation game. While limited observation generally leads to the existence of less efficient stable networks, I find that it can also lead to the existence of efficient stable networks. Moreover, stability restrictions considered in previous work lose their refining power as observation becomes more limited.

Suggested Citation

  • McBride Michael, 2006. "Limited Observation in Mutual Consent Networks," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 6(1), pages 1-31, August.
    • Handle: RePEc:bpj:bejtec:v:advances.6:y:2006:i:1:n:3
    DOI: 10.2202/1534-5963.1314
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    Citations

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    Cited by:

    1. Antoni Rubi-Barcelo, 2013. "Categorical Segregation from a Game Theoretical Approach," Annals of Economics and Finance, Society for AEF, vol. 14(1), pages 85-120, May.
    2. McBride, Michael, 2008. "Position-specific information in social networks: Are you connected?," Mathematical Social Sciences, Elsevier, vol. 56(2), pages 283-295, September.
    3. Michael Caldara & Michael McBride, 2014. "An Experimental Study of Network Formation with Limited Observation," Working Papers 141501, University of California-Irvine, Department of Economics.
    4. Miettinen, Topi & Poutvaara, Panu, 2014. "A market for connections," European Journal of Political Economy, Elsevier, vol. 33(C), pages 37-52.
    5. Foerster, Manuel & Mauleon, Ana & Vannetelbosch, Vincent J., 2021. "Shadow links," Journal of Economic Theory, Elsevier, vol. 197(C).
      • FOERSTER Manuel, & MAULEON Ana, & VANNETELBOSCH Vincent,, 2018. "Shadow links," LIDAM Discussion Papers CORE 2018030, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
      • Foerster, Manuel & Mauleon, Ana & Vannetelbosch, Vincent, 2021. "Shadow links," LIDAM Reprints CORE 3171, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    6. Melguizo Lopez, Isabel, 2019. "Group size and network formation," MPRA Paper 91428, University Library of Munich, Germany.

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