Title

On Local and Network Games

Document Type

Discussion Paper

Publication Date

4-1-2003

CFDP Number

1414

CFDP Pages

23

Abstract

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.

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