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• W1522805655 abstract "We consider a co-evolutionary model of social coordination and network formation where agents may decide on an action in a 2×2-coordination game and on whom to establish costly links to. We find that if agents may only support a limited number of links payoff dominant conventions will emerge in the long run, contrasting the case of unconstrained interactions where risk dominant conventions arise for a wide range of parameters. Under constrained iterations, already a small number of agents choosing the payoff dominant action enables agents – by linking up to those agents and choosing the payoff dominant action – to secure themselves the highest possible payoff. We extend our model by discussing constrained interactions in the context of general m×m games, convex payoff functions, heterogeneous constraints, and frictions in link formation." @default.
• W1522805655 created "2016-06-24" @default.
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• W1522805655 date "2014-07-01" @default.
• W1522805655 modified "2023-10-06" @default.
• W1522805655 title "Constrained interactions and social coordination" @default.
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• W1522805655 doi "https://doi.org/10.1016/j.jet.2014.04.001" @default.
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