| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13911 |
| DP13911 A Structural Model for the Coevolution of Networks and Behavior | |
| Michael König; Chih-Sheng Hsieh; Xiaodong Liu | |
| 发表日期 | 2019-08-07 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | This paper introduces a structural model for the coevolution of networks and behavior. The microfoundation of our model is a network game where agents adjust actions and network links in a stochastic best-response dynamics with a utility function allowing for both strategic externalities and unobserved heterogeneity. We show the network game admits a potential function and the coevolution process converges to a unique stationary distribution characterized by a Gibbs measure. To bypass the evaluation of the intractable normalizing constant in the Gibbs measure, we adopt the Double Metropolis-Hastings algorithm to sample from the posterior distribution of the structural parameters. To illustrate the empirical relevance of our structural model, we apply it to study R&D investment and collaboration decisions in the chemicals and pharmaceutical industry and find a positive knowledge spillover effect. Finally, our structural model provides a tractable framework for a long-run key player analysis. |
| 主题 | Industrial Organization |
| 关键词 | Strategic network formation Network interactions Stochastic best-response dynamics Unobserved heterogeneity Double metropolis-hastings algorithm R&d collaboration networks Key players |
| URL | https://cepr.org/publications/dp13911 |
| 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/542792 |
| 推荐引用方式 GB/T 7714 | Michael König,Chih-Sheng Hsieh,Xiaodong Liu. DP13911 A Structural Model for the Coevolution of Networks and Behavior. 2019. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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