Networks and Economics 4
Talkat Graph Limits and Processes on Networks: From Epidemics to Misinformation Boot Camp · 2022-08-29..09-02·
summary
Covers three concrete results and methods: network coordination games reduce to matrix R via diagonalization so equilibrium and welfare are quadratic forms, yielding a price of anarchy ≤ 9/8 for undirected networks but unbounded for directed ones; payment-clearing in financial networks uses isotone maps and Tarski lattice uniqueness (Eisenberg–Noe style) until adding bankruptcy costs creates multiple equilibria and contagion; production networks model percolation on deep supply trees and show a discontinuous phase transition in output as link reliability passes a threshold, generating self‑organized criticality driven by firms underinvesting due to externalities.
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chapters (8)
- 0:00Introduction to economic networks
- 1:45Network coordination games
- 12:44Welfare and spectral analysis
- 23:33Intervention and optimization
- 35:35Financial contagion models
- 50:20Failure costs and complexity
- 56:30Production networks and stability
- 1:20:57Economic incentives and equilibrium
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