| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13161 |
| DP13161 Network Formation with Local Complements and Global Substitutes: The Case of R&D Networks | |
| Michael König; Chih-Sheng Hsieh; Xiaodong Liu | |
| 发表日期 | 2018-09-06 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | We introduce a stochastic network formation model where agents choose both actions and links. Neighbors in the network benefit from each other’s action levels through local complementarities and there exists a global interaction effect reflecting a strategic substitutability in actions. We provide a complete equilibrium characterization in the form of a Gibbs measure, and show that the model is consistent with empirically observed networks. We then use our equilibrium characterization to show that the model can be conveniently estimated even for large networks. The policy relevance is demonstrated with examples of firm exit, mergers and subsidies in R&D collaboration networks. |
| 主题 | Industrial Organization |
| 关键词 | Network formation Peer effects Technology spillovers Key player Mergers and acquisitions Subsidies |
| URL | https://cepr.org/publications/dp13161 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/541964 |
| 推荐引用方式 GB/T 7714 | Michael König,Chih-Sheng Hsieh,Xiaodong Liu. DP13161 Network Formation with Local Complements and Global Substitutes: The Case of R&D Networks. 2018. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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