CFDP 1414
On Local and Network Games
Author(s):Publication Date: April 2003
Pages: 23
Abstract:
The knowledge constraints and transactions costs imposed by geographical distance, network connections and time conspire to justify local behavior as a good approximation for global rationality. We consider a class of games to illustrate this relationship and raise some questions as to what constitutes a satisfactory solution concept.
Keywords:
Local games, Network games, Advertising
JEL Classification Codes: C72, D43. D89, M39