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​Economics Seminar | Networks, markets, and inequality 

Published on: 27-Nov-2019

EventNetworks, markets, and inequality
Speaker
Prof Cao Zhigang
Beijing Jiaotong University, China
Date27 November 2019 (Wednesday)
Time4:00pm – 5:30pm
VenueHSS Meeting Room 4 (HSS-04-71)

About the Seminar
Gagnon and Goyal (2017) develop an elegant network game model to explore the interaction between markets and networks, a central theme in social sciences. This comment corrects two technical mistakes of their paper. The first mistake is about a characterization of the maximal equilibrium in two interesting cases. We correct this mistake and provide a unified characterization. The second mistake is the missing of a crucial assumption on the independence of three basic ingredients of the model, without which several results of the comparative statics would be problematic. We also provide a more systematic comparative statics with the help of the theory of games with strategic complements. (Joint work with Zhiwei Cui and Jin Zhang)  

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