On Local and Network Games
24 Pages Posted: 17 Apr 2003
Date Written: April 2003
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: C72, D43, D89, M39
Suggested Citation: Suggested Citation