Format du dépôt |
Fichier |
Type de dépôt |
Autre publication scientifique |
Résumé |
en
This paper aims to connect the social network literature on centrality measures with the economic literature on von Neumann-Morgenstern expected utility functions using cooperative game theory. The social network literature studies various concepts of network centrality, such as degree, betweenness, connectedness, and so on. This resulted in a great number of network centrality measures, each measuring centrality in a different way. In this paper, we aim to explore which centrality measures can be supported as von Neumann-Morgenstern expected utility functions, reflecting preferences over different network positions in different networks. Besides standard axioms on lotteries and preference relations, we consider neutrality to ordinary risk. We show that this leads to a class of centrality measures that is fully determined by the degrees (i.e. the numbers of neighbours) of the positions in a network. Although this allows for externalities, in the sense that the preferences of a position might depend on the way how other positions are connected, these externalities can be taken into account only by considering the degrees of the network positions. Besides bilateral networks, we extend our result to general cooperative TU-games to give a utility foundation of a class of TU-game solutions containing the Shapley value.
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Titre |
en
Degree Centrality, von Neumann-Morgenstern Expected Utility and Externalities in Networks
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Auteur(s)
|
René van den Brink
1
, Agnieszka Rusinowska
2, 3, 4, 5
1
VU University Amsterdam and Tinbergen Institute
( 339124 )
-
- France
2
CES -
Centre d'économie de la Sorbonne
( 15080 )
- Maison des Sciences Économiques - 106-112 Boulevard de l'Hôpital - 75647 Paris Cedex 13
- France
-
Université Paris 1 Panthéon-Sorbonne UMR8174 ( 7550 )
;
-
Centre National de la Recherche Scientifique UMR8174 ( 441569 )
3
CNRS -
Centre National de la Recherche Scientifique
( 441569 )
- France
4
UP1 -
Université Paris 1 Panthéon-Sorbonne
( 7550 )
- 12 place du Panthéon, 75231 Paris Cedex 05
- France
5
PSE -
Paris School of Economics
( 301309 )
- 48 boulevard Jourdan 75014 Paris
- France
-
Université Paris 1 Panthéon-Sorbonne ( 7550 )
;
-
École normale supérieure - Paris ( 59704 )
;
-
Université Paris Sciences et Lettres ( 564132 )
;
-
École des hautes études en sciences sociales ( 99539 )
;
-
École des Ponts ParisTech ( 301545 )
;
-
Centre National de la Recherche Scientifique ( 441569 )
;
-
Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement ( 577435 )
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Langue du document |
Anglais
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Licence |
Paternité
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Nom de la revue |
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Date de publication |
2023-08
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Description |
Documents de travail du Centre d'Economie de la Sorbonne 2023.12 - ISSN : 1955-611X
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Vulgarisation |
Non
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Commentaire |
Voir aussi |
-
https://econpapers.repec.org/paper/msecesdoc/23012.htm
-
https://centredeconomiesorbonne.cnrs.fr/publications/
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Éditeur scientifique |
-
Centre d'Economie de la Sorbonne - CES UMR 8174
|
Domaine(s) |
-
Sciences de l'Homme et Société/Economies et finances
|
Projet(s) Européen(s) |
-
EPOC
- Economic Policy in Complex Environments
Numéro CORDIS :
956107
|
Mots-clés (JEL) |
-
C - Mathematical and Quantitative Methods/C.C0 - General/C.C0.C02 - Mathematical Methods
-
D - Microeconomics/D.D8 - Information, Knowledge, and Uncertainty/D.D8.D81 - Criteria for Decision-Making under Risk and Uncertainty
-
D - Microeconomics/D.D8 - Information, Knowledge, and Uncertainty/D.D8.D85 - Network Formation and Analysis: Theory
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Référence interne |
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Mots-clés |
en
weighted network, degree, centrality measure, externalities, neutrality to ordinary risk, expected utility function
|