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Wirtschaftswissenschaftlicher Fachbereich - Jahrgang 2008

 

Titel

Evolution in Structured Populations

Autor

Lars Peter Koch

Publikationsform

Dissertation

Abstract

How does social and economic interaction of agents within large populations depend on their perception of the matching-structure?
When do evolutionary dynamics with limited information processing lead to stable outcomes prescribed by rational concepts?
In the chapter "Anticipated Stability in Social and Economic Networks", I model agents to meet with non-uniform probabilities. As friends or colleagues are more likely to interact frequently, this deviation seems to be plausible. A comfortable approach to model such conditional interaction is the one of network formation. I transfer Jackson & Wolinsky (1996) and its dynamic interpretation Jackson & Watts (2002) to a non-cooperative model of network formation. Unsurprisingly, a pairwise stable network results from a Nash equilibrium. My focus rather is on closed cycles. A closed cycle is a subset of networks all of whose members are active periodically. Such a set could also be interpreted as a random graph. Jackson & Watts (2002) show that the process of network formation eventually stops in a pairwise stable network or is stuck in a closed cycle. The point of my paper is that this result crucially depends on the assumption of myopic optimization. I propose that agents may hold beliefs that are consistent with actual behavior for networks that have distance less than κ to the current network and optimize given these beliefs. The parameter κ captures the computational capabilites of the agents. If κ is large enough, small cycles can be excluded if agents anticipate such cycles. more...

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© Universitäts- und Landesbibliothek Bonn | Veröffentlicht: 2008