| 来源类型 | FEEM working papers "Note di lavoro" series
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| 规范类型 | 论文
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| Contagion in Stable Networks |
| Spiros Bougheas
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| 发表日期 | 2017
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| 出处 | Economic Theory
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| 出版年 | 2017
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| 语种 | 英语
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| 摘要 | We study the formation of networks in environments where agents derive benefits from other agents directly linked to them but suffer losses through contagion when any agent on a path connected to them is hit by a shock. We first consider networks with undirected links (e.g. epidemics, underground resistance organizations, trade networks) where we find that stable networks are comprised of completely connected disjoint subnetworks. Then, we consider networks with directed links and we find that the completely connected network is stable, although, its exact structure, and thus contagion implications, is sensitive to parameter values for costs and benefits. Lastly, we introduce aggregate externalities (e.g. fire sales for the case of financial networks) and we find that stable networks can be asymmetric, connected but not completely connected, thus capturing the main features of inter-industry and financial networks.
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Suggested citation: Bougheas, S., (2017), 'Contagion in Stable Networks', Nota di Lavoro 50.2017, Milano, Italy: Fondazione Eni Enrico Mattei |
| 特色分类 | C72;D85
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| 关键词 | Network Formation
Stability
Contagion
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| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/contagion-in-stable-networks/
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| 来源智库 | Fondazione Eni Enrico Mattei (Italy)
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/118551
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推荐引用方式
GB/T 7714 |
Spiros Bougheas. Contagion in Stable Networks. 2017.
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ndl2017-050.pdf
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