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We analyze a network formation game in a strategic setting where payoffs of individuals depend only on their immediate neighbourhood. We call these payoffs as localized payoffs. In this game, the payoff of each individual captures (1) the…
We consider a sharing economy network where agents embedded in a graph share their resources. This is a fundamental model that abstracts numerous emerging applications of collaborative consumption systems. The agents generate a random…
The paper examines the learning mechanism of adaptive agents over weakly-connected graphs and reveals an interesting behavior on how information flows through such topologies. The results clarify how asymmetries in the exchange of data can…
This paper deals with dynamical networks for which the relations between node signals are described by proper transfer functions and external signals can influence each of the node signals. We are interested in graph-theoretic conditions…
We study a network formation game where nodes wish to send traffic to other nodes. Nodes can contract bilaterally other nodes to form bidirectional links as well as nodes can break unilaterally contracts to eliminate the corresponding…
With emergence of blockchain technologies and the associated cryptocurrencies, such as Bitcoin, understanding network dynamics behind Blockchain graphs has become a rapidly evolving research direction. Unlike other financial networks, such…
In this work, we investigate a simple nonequilibrium system with many interconnected, open subsystems, each exchanging a globally conserved resource with an external reserve. The system is represented by a random graph, where nodes…
This paper examines the structural controllability for a group of agents, called followers, connected to each other based on the consensus law under commands of multiple leaders, which are agents with superior capabilities, over a fixed…
We present a simple dynamical model for describing trading interactions between agents in a social network by considering only two dynamical variables, namely money and goods or services, that are assumed conserved over the whole time span…
In the context of understanding the nature of the risk transformation process of the financial system we propose an iterative risk-trading game between several agents who build their trading strategies based on a general utility setting.…
We define a class of pure exchange Edgeworth trading processes that under minimal assumptions converge to a stable set in the space of allocations, and characterise the Pareto set of these processes. Choosing a specific process belonging to…
We present a novel agent-based approach to simulating an over-the-counter (OTC) financial market in which trades are intermediated solely by market makers and agent visibility is constrained to a network topology. Dynamics, such as changes…
We show that for a certain class of dynamics at the nodes the response of a network of any topology to arbitrary inputs is defined in a simple way by its response to a monotone input. The nodes may have either a discrete or continuous set…
We propose and analyze a graph model to study the connectivity of interdependent networks. Two interdependent networks of arbitrary topologies are modeled as two graphs, where every node in one graph is supported by supply nodes in the…
Since its introduction, envy-freeness up to any good (EFX) has become a fundamental solution concept in fair division of indivisible goods. Its existence remains elusive -- even for four agents with additive utility functions, it is unknown…
We consider a social learning problem, where a network of agents is interested in selecting one among a finite number of hypotheses. We focus on weakly-connected graphs where the network is partitioned into a sending part and a receiving…
The maintenance of cooperation in the presence of spatial restrictions has been studied extensively. It is well-established that the underlying graph topology can significantly influence the outcome of games on graphs. Maintenance of…
We present a mathematical model of a market with $m$ shares traded across $n$ investor groups, each one with similar motivations and trading strategies. The market of each asset consists of a fixed amount of cash and shares (no additions…
We consider a monopolistic seller in a market that may be segmented. The surplus of each consumer in a segment depends on the price that the seller optimally charges, which depends on the set of consumers in the segment. We study which…
Initially designed to predict and explain the economic trajectories of countries, cities, and regions, economic complexity has been found applicable in diverse contexts such as ecology and chess openings. The success of economic complexity…