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.
Recommended Citation
Quint, Thomas and Shubik, Martin, "On Local and Network Games" (2003). Cowles Foundation Discussion Papers. 1683.
https://elischolar.library.yale.edu/cowles-discussion-paper-series/1683