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SUMMARY:Seminar by Dr. Michael König\, University of Zurich
DTSTART:20170619T120000
DTEND:20170619T133000
DTSTAMP:20260916T043957Z
UID:eba732dab1160a04efa31a0cb3e17477bbad5831c934b558b0b10044
CATEGORIES:Conferences - Seminars
DESCRIPTION:Dr. Michael König\, University of Zurich\n"Network Formation 
 with Local Complements and Global Substitutes: The Case of R&D"\n\nAbstrac
 t\n\nIn this paper we introduce a stochastic network formation model where
  agents choose both actions and links. Neighbors in the network benefit fr
 om each other’s action levels through local complementarities and there 
 exists a global interaction effect reflecting a strategic substitutability
  in actions. The tractability of the model allows us to provide a complete
  equilibrium characterization in the form of a Gibbs measure\, and we show
  that the structural features of equilibrium networks are consistent with 
 empirically observed networks. We then use our equilibrium characterizatio
 n to show that the model can be conveniently estimated even for large netw
 orks. The policy relevance is demonstrated with examples of firm exit\, me
 rgers and acquisitions and subsidies in the context of R&D collaboration n
 etworks.\n 
LOCATION:EPFL\, ODY 4.03\, VIP Room http://plan.epfl.ch/?zoom=19&recenter_
 y=5863800.12869&recenter_x=731560.22521&layerNodes=fonds\,batiments\,label
 s\,information\,parkings_publics\,arrets_metro\,transports_publics&floor=4
 &q=ODY_4.03
STATUS:CONFIRMED
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