I am currently reading “Modern Political Economy: Making sense of the post-2008 world” by Yanis Varoufakis, Joseph Halevi and Nicholas Theocarakis, published in 2011 by Routledge. In this and next posts I will collect my comments, chapter by chapter. These notes also form the foundation for a reading club initiated at Queen’s University Management School…
Thinking about the consequences of economic networks
I just posted a new paper on multilateral matching in network economies on the game theory page. This paper is co-authored with Emiliya Lazarova (University of Birmingham) and Pieter Ruys (Tilburg University). This paper investigates a network economy in which economic agents are connected within a structure of value-generating relationships. Agents are assumed to be…
Investigating network formation under mutual consent
It seems to me there is a lack of game-theoretic modelling of network formation under mutual consent in the relationship building process. To model such a process of mutual consent is rather difficult. The simplest model from the literature is Myerson’s network formation game in which all individuals announce which links they want to build….
New research on naive learning in networks
Together with Zhengzheng Pan I am working on how naive economic decision makers operate in complex, multi-layer network structures. In the updated paper that I posted on the game theory research page, we consider how decision makers interact in a network and at the same time observe other decision makers in a separate, but correlated…
Update: Ambiguity and the environment
I have posted an updated draft of the working paper with Dimitrios Diamantaras (Temple University, Philadelphia) on social opinion formation and ambiguity in the (global) environmental debate. The paper is posted on the game theory page. The paper has been revised and edited to be more clear in the presentation of its conclusions.
Emperors of the network economy
This week news emerged that senior managers at large corporations (FTSE100) gave themselves an average pay rise of 55%. (Today there was a response by an executive that this pay rise was “only” 23%…) This followed earlier news that investment bankers have increased their bonuses to record levels as they face record profits. These tremendous…