【 The Digital Star Seminar Series No.27 】Network Games Made Simple

Date: 28 October 2022 (Fri) 
Time: 3:00pm - 4:30pm (Hong Kong Time, UTC+8)
Platform: Tencent Meeting (ID 927-253-696)

Host: Prof. Miaojun Wang (School of Economics, Zhejiang University)

Presenter: Prof. Junjie Zhou (Tsinghua University)

Abstract：

Most network games assume that the best response of a player is a linear function of the actions of her neighbors; clearly, this is a restrictive assumption. We developed a theory called sign-equivalent transformation (SET) underlying the mathematical structure behind a system of equations defining the Nash equilibrium. By applying our theory, we reveal that many network models in the existing literature, including those with nonlinear best responses, can be transformed into games with best-response potentials after appropriate restructuring of equilibrium conditions using SET. Thus, through our theory, we produce a unified framework that provides conditions for existence and uniqueness of equilibrium for most network games with both linear and nonlinear best-response functions. We also provide novel economic insights for both the existing network models and the new ones we develop in this study.

Intro to Prof. Junjie Zhou:

Junjie Zhou is a professor in the Department of Economics, School of Economics and Management, Tsinghua University. His research fields include digital economy, social and economic networks, industrial organization and game theory. His research results were published in The Review of Economic Studies, RAND Journal of Economics and other journals. He is now the associate editor of Journal of Industrial Economics, International Journal of Industrial Organization, Journal of Mathematical Economics and Mathematical Social Sciences.

Organization：

- The Chinese University of Hong Kong-Zhejiang University Joint Research Center for Digital Economy

- China Digital Economy Research Center of School of Economics, Zhejiang University

- Zhejiang University Digital Economy Innovation Research Team

Intro to The Digital Star Seminar Series：

The Digital Star Seminar Series is co-hosted by the China Digital Economy Research Center of School of Economics, Zhejiang University, and the Chinese University of Hong Kong-Zhejiang University Joint Research Center for Digital Economy. This series of seminars will study the development of the digital economy and China's economic transformation based on the practice of China's digital transformation. We will invite domestic and overseas scholars to share and discuss the latest research on the digital economy and the Chinese economy. We hope that this academic platform can become a paradise for the study of the digital economy. More importantly, it can generate insights that significantly impact the digital economy and Chinese economy, which will help promote digital transformation and high-quality economic development in Chinese society.