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Acquiring Information through Peers
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OA
AI
DOI：10.1257/aer.20181798.png)
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摘要
En 中文
We develop an endogenous network formation model, in which agents form connections to acquire information. Our model features complementarity in actions as agents care not only about accuracy of their decision-making but also about the actions of other agents. In equilibrium, the information structure is a hierarchical network, and, under weakly convex cost of forming links, the equilibrium network is core-periphery. Although agents are ex ante identical, there is ex post heterogeneity in payoffs and actions.
Keyword:
SOCIAL VALUE
NETWORK FORMATION
PUBLIC-GOODS
COORDINATION
ACQUISITION
MODEL
COMMUNICATION
PERIPHERY
CORE
期刊
IF:
11.6
论文数:
5.0K
被引数:
7.5W
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