Proceedings of the 21st International Conference on World Wide Web 2012
DOI: 10.1145/2187836.2187912
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Strategic formation of credit networks

Abstract: Credit networks are an abstraction for modeling trust between agents in a network. Agents who do not directly trust each other can transact through exchange of IOUs (obligations) along a chain of trust in the network. Credit networks are robust to intrusion, can enable transactions between strangers in exchange economies, and have the liquidity to support a high rate of transactions. We study the formation of such networks when agents strategically decide how much credit to extend each other. When each agent t… Show more

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Cited by 9 publications
(5 citation statements)
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References 23 publications
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“…Past analyses of simulation-based games with large numbers of pure strategies, such as Dandekar et al (2015), have largely been limited to exploring strategies iteratively to find small-support Nash equilibria. GPRI is similarly limited due to difficulty handling games with more than five pure-strategies.…”
Section: Scaling In the Number Of Pure-strategiesmentioning
confidence: 99%
“…Past analyses of simulation-based games with large numbers of pure strategies, such as Dandekar et al (2015), have largely been limited to exploring strategies iteratively to find small-support Nash equilibria. GPRI is similarly limited due to difficulty handling games with more than five pure-strategies.…”
Section: Scaling In the Number Of Pure-strategiesmentioning
confidence: 99%
“…To enable transactions between arbitrary users, the credit network must have good connectivity and should maintain liquidity, i.e., the network must offer a good choice of paths with sufficient credit along their links. These aspects have been considered in the literature [7], [8], [49].…”
Section: A Credit Networkmentioning
confidence: 99%
“…Despite its promising future, the concept of credit networks is still in an early stage and there is room for improvement. System issues such as liquidity [7], network formation [8], [49] and routing scalability [35], [48] of credit networks have been addressed in the recent literature; however, the important issue of credit networks' privacy has not been thoroughly investigated yet. While employing credit network-based payment systems, businesses and customers strive to ensure the privacy of their credit links and transactions from the prying eyes of competitors, authorities, and even service providers; patients want to protect the privacy of their medical bills; in Sybil-tolerant social networks based on credit networks [48], users naturally demand to keep some of their social links and interactions hidden from others.…”
Section: Introductionmentioning
confidence: 99%
“…We are concerned with scenarios where agents autonomously decide how much credit to issue and to whom, based on their own self-interest and available information. We framed the issue of strategic formation of credit networks in our initial investigation [14], which the current study extends. That formation of viable networks is in question at all derives from two characteristics of the problem:…”
Section: Credit Network Formationmentioning
confidence: 99%
“…The prior study [14] produced several theoretical results related to the game described above. For example, that work considered a dichotomous risk model, where all transactions are between neighbors in an underlying social network, and the credit network is restricted to allow payments only on direct edges (i.e., no routing along paths).…”
Section: Credit Network Formationmentioning
confidence: 99%