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Joint Microeconomics, Industrial Organization and Applied Microeconomics Workshop: Anton Badev

Thursday, February 28, 2019 at 11:40am to 1:10pm

Uris Hall, 498
Central Campus

Anton Badev, Federal Reserve Board & CMU

Nash Equilibria on (Un)Stable Networks

Abstract:  While individuals may selfishly choose their optimal behaviors (Nash, 1950), they commit to relationships that result from communication, coordination, and cooperation (Jackson and Wolinsky,1996). In games of friendship links and behaviors, a Nash equilibrium in k-stable network (NEkSN) emerges when players internalize the consensual nature of human relationships. The joint choice of behaviors and relationships may result in a multitude of equilibria, ranked in probabilistic sense as these equilibria arise in a k-player consensual dynamic (kCD). Application of the proposed framework to adolescents' tobacco smoking and friendship decisions suggests that: (a.) the response of the friendship network to changes in tobacco price amplifies the intended effect on smoking, (b.) racially desegregating high-schools decreases the overall smoking prevalence, (c.) the response of the social network is quantitatively important in analyzing the aggregate spillovers, (d.) the estimation biases when the network externalities are mis-specified and when peer effects are omitted are of the same sign.


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Event Type

Seminar, Class/ Workshop




economics, EconSeminar, EconMicro, EconIO, EconAppliedMicro

Contact E-Mail

Contact Name

Amy Moesch

Contact Phone



Anton Badev

Speaker Affiliation

Federal Reserve Board & CMU

Open To

Cornell Economics Community - List Serve Members