research-article

Behavioral experiments in networked trade

Authors:

J. Stephen Judd,

Michael KearnsAuthors Info & Claims

EC '08: Proceedings of the 9th ACM conference on Electronic commerce

Pages 150 - 159

https://doi.org/10.1145/1386790.1386817

Published: 08 July 2008 Publication History

Abstract

We report on an extensive series of highly controlled human subject experiments in networked trade. Our point of departure is a simple and well-studied bipartite network exchange model, for which previous work has established a detailed equilibrium theory relating wealth to network topology. A notable feature of this theory is its prediction that there may be significant local variation in equilibrium wealths and prices purely as a result of structural asymmetries in the network.

Our experiments mix recent lines of thought from algorithmic game theory, behavioral economics and social network theory, and are among the first and largest behavioral economics experiments on network effects conducted to date. They continue a line of human subject experiments on networked games and optimization allowing only local interactions.

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Cited By

Shirado HIosifidis GTassiulas LChristakis N(2019)Resource sharing in technologically defined social networksNature Communications10.1038/s41467-019-08935-210:1Online publication date: 6-Mar-2019
https://doi.org/10.1038/s41467-019-08935-2
Bahr KNakagawa M(2019)Information Diffusion as a Mechanism for Natural Evolution of Social NetworksSocial Simulation for a Digital Society10.1007/978-3-030-30298-6_5(51-66)Online publication date: 19-Nov-2019
https://doi.org/10.1007/978-3-030-30298-6_5
Coviello LFranceschetti M(2016)An Instance of Distributed Social Computation: The Multiagent Group Membership ProblemIEEE Transactions on Control of Network Systems10.1109/TCNS.2015.24536713:1(79-90)Online publication date: Mar-2016
https://doi.org/10.1109/TCNS.2015.2453671
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Index Terms

Behavioral experiments in networked trade
1. Applied computing
  1. Law, social and behavioral sciences
    1. Economics

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Published In

cover image ACM Conferences

EC '08: Proceedings of the 9th ACM conference on Electronic commerce

July 2008

332 pages

ISBN:9781605581699

DOI:10.1145/1386790

General Chair:
Lance Fortnow
Northwestern University, USA
,
Program Chairs:
John Riedl
University of Minnesota, USA
,
Tuomas Sandholm
Carnegie-Mellon University, USA

Copyright © 2008 ACM.

Permission to make digital or hard copies of all or part of this work for personal or classroom use is granted without fee provided that copies are not made or distributed for profit or commercial advantage and that copies bear this notice and the full citation on the first page. Copyrights for components of this work owned by others than ACM must be honored. Abstracting with credit is permitted. To copy otherwise, or republish, to post on servers or to redistribute to lists, requires prior specific permission and/or a fee. Request permissions from [email protected]

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Published: 08 July 2008

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EC '08: ACM Conference on Electronic Commerce

July 8 - 12, 2008

Il, Chicago, USA

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Overall Acceptance Rate 664 of 2,389 submissions, 28%

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Cited By

Shirado HIosifidis GTassiulas LChristakis N(2019)Resource sharing in technologically defined social networksNature Communications10.1038/s41467-019-08935-210:1Online publication date: 6-Mar-2019
https://doi.org/10.1038/s41467-019-08935-2
Bahr KNakagawa M(2019)Information Diffusion as a Mechanism for Natural Evolution of Social NetworksSocial Simulation for a Digital Society10.1007/978-3-030-30298-6_5(51-66)Online publication date: 19-Nov-2019
https://doi.org/10.1007/978-3-030-30298-6_5
Coviello LFranceschetti M(2016)An Instance of Distributed Social Computation: The Multiagent Group Membership ProblemIEEE Transactions on Control of Network Systems10.1109/TCNS.2015.24536713:1(79-90)Online publication date: Mar-2016
https://doi.org/10.1109/TCNS.2015.2453671
Cai KNiu JParsons S(2014)On the effects of competition between agent-based double auction marketsElectronic Commerce Research and Applications10.1016/j.elerap.2014.04.00213:4(229-242)Online publication date: 1-Jul-2014
https://dl.acm.org/doi/10.1016/j.elerap.2014.04.002
Kohli PKearns MBachrach YHerbrich RStillwell DGraepel TContractor NUzzi BMacy MNejdl W(2012)Colonel Blotto on FacebookProceedings of the 4th Annual ACM Web Science Conference10.1145/2380718.2380738(141-150)Online publication date: 22-Jun-2012
https://dl.acm.org/doi/10.1145/2380718.2380738
Kearns M(2012)Experiments in social computationCommunications of the ACM10.1145/2347736.234775355:10(56-67)Online publication date: 1-Oct-2012
https://dl.acm.org/doi/10.1145/2347736.2347753
Kearns MJudd SVorobeychik YFaltings BLeyton-Brown KIpeirotis P(2012)Behavioral experiments on a network formation gameProceedings of the 13th ACM Conference on Electronic Commerce10.1145/2229012.2229066(690-704)Online publication date: 4-Jun-2012
https://dl.acm.org/doi/10.1145/2229012.2229066
Cai KNiu JParsons S(2012)Network Effects in Double Auction Markets with Automated TradersAgent-Mediated Electronic Commerce. Designing Trading Strategies and Mechanisms for Electronic Markets10.1007/978-3-642-34200-4_2(19-33)Online publication date: 2012
https://doi.org/10.1007/978-3-642-34200-4_2
Chung FTsiatas A(2012)Hypergraph coloring games and voter modelsProceedings of the 9th international conference on Algorithms and Models for the Web Graph10.1007/978-3-642-30541-2_1(1-16)Online publication date: 22-Jun-2012
https://dl.acm.org/doi/10.1007/978-3-642-30541-2_1
Judd SKearns MVorobeychik Y(2011)Behavioral conflict and fairness in social networksProceedings of the 7th international conference on Internet and Network Economics10.1007/978-3-642-25510-6_21(242-253)Online publication date: 11-Dec-2011
https://dl.acm.org/doi/10.1007/978-3-642-25510-6_21
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