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The evolution of a global network: a game of coalition formation

Chichilnisky, Graciela
Munich Personal RePEc Archive · Reports
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theory
The paper explores the evolution of global networks. Examples include networks which process cross-border securities trades: CEDEL, Euroclear, and FITEL. I formalize a network market with many users: due to fixed costs the supply is downward slopping, and due to externalities the demand is upward sl
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