Abstract
In recent years, considerable attention has been paid to the question: what are the circumstances under which an economic equilibrium emerges? This research has highlighted the important role of the interaction pattern among individual entities in shaping the process through which an equilibrium emerges. This paper starts with an example of social learning and technology diffusion to illustrate this role. I then study the formation of the social interaction structure; this leads me to develop a model of network formation. The paper presents results on the static as well as dynamic aspects of network formation.
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© 2002 Springer-Verlag Berlin Heidelberg
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Goyal, S. (2002). Learning in Networks. In: Hommes, C.H., Ramer, R., Withagen, C.A. (eds) Equilibrium, Markets and Dynamics. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-56131-3_20
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DOI: https://doi.org/10.1007/978-3-642-56131-3_20
Publisher Name: Springer, Berlin, Heidelberg
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