Directed or Undirected? A New Index to Check for Directionality of Relations in Socio-Economic Networks
AbstractThis paper proposes a simple procedure to decide whether the empirically-observed adjacency or weights matrix, which characterizes the graph underlying a socio-economic network, is sufficiently symmetric (respectively, asymmetric) to justify an undirected (respectively, directed) network analysis. We introduce a new index that satisfies two main properties. First, it can be applied to both binary or weighted graphs. Second, once suitably standardized, it distributes as a standard normal over all possible adjacency/weights matrices. To test the index in practice, we present an application that employs a set of well-known empirically-observed social and economic networks.
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Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 3 (2006)
Issue (Month): 34 ()
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- C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
- C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
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