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dc.contributor.authorGoeree, Jacob K.en
dc.contributor.authorRiedl, Arnoen
dc.contributor.authorUle, Aljazen
dc.date.accessioned2006-01-16-
dc.date.accessioned2010-07-07T09:12:20Z-
dc.date.available2010-07-07T09:12:20Z-
dc.date.issued2005-
dc.identifier.urihttp://hdl.handle.net/10419/33508-
dc.description.abstractThis paper reports the results of a laboratory experiment on network formation among heterogeneous agents. The experimental design extends the basic Bala-Goyal (2000) model of network formation with decay and two-way flow of benefits by allowing for agents with lower linking costs or higher benefits to others. We consider treatments where agents' types are common knowledge and treatments where agents' types are private information. In all treatments, the (efficient) equilibrium network has a star structure. We find that with homogeneous agents, equilibrium predictions fail completely. In contrast, with heterogeneous agents stars frequently occur, often with the high-value or low-cost agent in the center. Stars are not borne but rather develop: in treatments with a high-value agent, the network's centrality, stability, and efficiency all increase over time. Our results suggest that agents' heterogeneity is a major determinant for the predominance of star-like structures in real-life social networks.en
dc.language.isoengen
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen
dc.relation.ispartofseries|aIZA Discussion Papers |x1754en
dc.subject.jelC72en
dc.subject.jelC91en
dc.subject.jelC92en
dc.subject.jelD01en
dc.subject.jelD85en
dc.subject.ddc330en
dc.subject.keywordnetwork formationen
dc.subject.keywordstarsen
dc.subject.keywordheterogeneityen
dc.subject.keywordlaboratory experimentsen
dc.subject.stwNetzwerken
dc.subject.stwSoziales Netzwerken
dc.subject.stwTesten
dc.subject.stwAsymmetrische Informationen
dc.subject.stwTheorieen
dc.titleIn search of stars: network formation among heterogeneous agents-
dc.type|aWorking Paperen
dc.identifier.ppn500644233en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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