Speaker: Mariya Teteryatnikova (Department of Economics at the National Research University Higher School of Economics, Moscow)
Paper to be presented: “On the Existence of Perfect Pairwise Stable Weighted Networks” joint with Philippe Bich (Paris School of Economics and University of Paris 1 Pantheon-Sorbonne)
Date, Time and Venue: Monday, 6 May 2019, 14:00-15:00, 260-6115 [Business School Building, Level 6]
Abstract: We introduce a new concept of stability in network formation, perfect pairwise stability, and prove that a perfect pairwise stable network exists under very general assumptions. Perfect pairwise stability strictly refines the pairwise stability concept of Jackson and Wolinsky (1996), by transposing the idea of “trembling hand” perfection from non-cooperative games to the framework of cooperative pairwise network formation. The existence result extends that of Bich and Morhaim (2017). We prove that our concept is distinct from strong pairwise stability, a refinement concept introduced by Jackson and Van den Nouweland (2005). We also introduce a sequential framework for network formation and define a natural concept of sequential pairwise stability. By analogy with non-cooperative games, we prove that the sequential framework can be associated with a static one, and that the sequential pairwise stable networks correspond exactly to perfect pairwise stable networks in the static framework.
Short Bio: Mariya Teteryatnikova received her PhD in 2010 from the European University Institute in Florence, Italy. After that, she worked for six years as an Assistant professor at the University of Vienna and for another year at WU- Vienna University of Economics and Business. Since September 2017 she holds a position of an Assistant professor at Higher School of Economics in Moscow and since July 2018 – also a position of a Research associate at WU in Vienna. Her main research fields are (mostly applied) game and network theory and industrial organization.