IDEAS home Printed from https://ideas.repec.org/a/eee/gamebe/v91y2015icp1-13.html
   My bibliography  Save this article

Competitive economy as a ranking device over networks

Author

Listed:
  • Du, Ye
  • Lehrer, Ehud
  • Pauzner, Ady

Abstract

We propose a novel approach to generating a ranking of items in a network (e.g., of web pages connected by links or of articles connected by citations). We transform the network into an exchange economy, and use the resulting competitive equilibrium prices of the network nodes as their ranking. The widely used Google's PageRank comes as a special case when the nodes are represented by Cobb–Douglas utility maximizers. We further use the economic metaphor to combine between the Citation Count and PageRank by imposing a redistributive taxing scheme.

Suggested Citation

  • Du, Ye & Lehrer, Ehud & Pauzner, Ady, 2015. "Competitive economy as a ranking device over networks," Games and Economic Behavior, Elsevier, vol. 91(C), pages 1-13.
    • Handle: RePEc:eee:gamebe:v:91:y:2015:i:c:p:1-13
    DOI: 10.1016/j.geb.2015.03.006
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0899825615000469
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.geb.2015.03.006?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Ignacio Palacios-Huerta & Oscar Volij, 2004. "The Measurement of Intellectual Influence," Econometrica, Econometric Society, vol. 72(3), pages 963-977, May.
    2. Gabrielle Demange, 2011. "On the influence of rankings," Working Papers halshs-00589657, HAL.
    3. Liebowitz, S J & Palmer, J P, 1984. "Assessing the Relative Impacts of Economic Journals," Journal of Economic Literature, American Economic Association, vol. 22(1), pages 77-88, March.
    4. AMIR, Rabah, 2002. "Impact-adjusted citations as a measure of journal quality," LIDAM Discussion Papers CORE 2002074, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Demange, Gabrielle, 2017. "Mutual rankings," Mathematical Social Sciences, Elsevier, vol. 90(C), pages 35-42.
    2. Thomas J. Sargent & John Stachurski, 2022. "Economic Networks: Theory and Computation," Papers 2203.11972, arXiv.org, revised Jul 2022.
    3. Shikhman, V. & Nesterov, Yu. & Ginsburgh, V., 2018. "Power method tâtonnements for Cobb–Douglas economies," Journal of Mathematical Economics, Elsevier, vol. 75(C), pages 84-92.
    4. van den Brink, René & Rusinowska, Agnieszka, 2022. "The degree measure as utility function over positions in graphs and digraphs," European Journal of Operational Research, Elsevier, vol. 299(3), pages 1033-1044.
    5. Brink, René van den & Rusinowska, Agnieszka, 2021. "The degree ratio ranking method for directed graphs," European Journal of Operational Research, Elsevier, vol. 288(2), pages 563-575.
    6. Matthew Elliott & Benjamin Golub, 2019. "A Network Approach to Public Goods," Journal of Political Economy, University of Chicago Press, vol. 127(2), pages 730-776.
    7. Hannu Salonen, 2016. "Equilibria and centrality in link formation games," International Journal of Game Theory, Springer;Game Theory Society, vol. 45(4), pages 1133-1151, November.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Pantelis Kalaitzidakis & Theofanis P. Mamuneas & Thanasis Stengos, 2011. "An updated ranking of academic journals in economics," Canadian Journal of Economics, Canadian Economics Association, vol. 44(4), pages 1525-1538, November.
    2. Gabrielle Demange, 2012. "On the influence of a ranking system," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 39(2), pages 431-455, July.
    3. Gabrielle Demange, 2012. "Collective attention and ranking methods," PSE Working Papers halshs-00564982, HAL.
    4. Brozos-Vázquez, Miguel & Campo-Cabana, Marco Antonio & Díaz-Ramos, José Carlos & González-Díaz, Julio, 2008. "Ranking participants in tournaments by means of rating functions," Journal of Mathematical Economics, Elsevier, vol. 44(11), pages 1246-1256, December.
    5. Gabrielle Demange, 2011. "On the influence of rankings," PSE Working Papers halshs-00589657, HAL.
    6. Rabah Amir & Malgorzata Knauff, 2008. "Ranking Economics Departments Worldwide on the Basis of PhD Placement," The Review of Economics and Statistics, MIT Press, vol. 90(1), pages 185-190, August.
    7. David L. Anderson & John Tressler, 2013. "The Relevance of the “h-” and “g-” Index to Economics in the Context of A Nation-Wide Research Evaluation Scheme: The New Zealand Case," Economic Papers, The Economic Society of Australia, vol. 32(1), pages 81-94, March.
    8. Ignacio Palacios-Huerta & Oscar Volij, 2004. "The Measurement of Intellectual Influence," Econometrica, Econometric Society, vol. 72(3), pages 963-977, May.
    9. J. A. García & Rosa Rodriguez-Sánchez & J. Fdez-Valdivia & J. Martinez-Baena, 2012. "On first quartile journals which are not of highest impact," Scientometrics, Springer;Akadémiai Kiadó, vol. 90(3), pages 925-943, March.
    10. ,, 2014. "A ranking method based on handicaps," Theoretical Economics, Econometric Society, vol. 9(3), September.
    11. Yong Bao & Melody Lo & Franklin G. Mixon, 2010. "General-interest versus specialty journals: Using intellectual influence of econometrics research to rank economics journals and articles," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 25(2), pages 345-353.
    12. Erich Battistin & Marco Ovidi, 2022. "Rising Stars: Expert Reviews and Reputational Yardsticks in the Research Excellence Framework," Economica, London School of Economics and Political Science, vol. 89(356), pages 830-848, October.
    13. Demange, Gabrielle, 2017. "Mutual rankings," Mathematical Social Sciences, Elsevier, vol. 90(C), pages 35-42.
    14. Waltman, Ludo & van Eck, Nees Jan, 2008. "Some comments on the journal weighted impact factor proposed by Habibzadeh and Yadollahie," Journal of Informetrics, Elsevier, vol. 2(4), pages 369-372.
    15. J. A. García & Rosa Rodriguez-Sánchez & J. Fdez-Valdivia, 2011. "Overall prestige of journals with ranking score above a given threshold," Scientometrics, Springer;Akadémiai Kiadó, vol. 89(1), pages 229-243, October.
    16. Wohlrabe, Klaus, 2016. "Taking the Temperature: A Meta-Ranking of Economics Journals," MPRA Paper 68933, University Library of Munich, Germany.
    17. Melody Lo & Sunny Wong & Franklin G. Mixon & Carlos J. Asarta, 2014. "Ranking Economics Journals and Articles, Economics Departments, and Economists Using Teaching-Focused Research Productivity: 1991-2011," Working Papers 14-14, University of Delaware, Department of Economics.
    18. László Á. Kóczy & Alexandru Nichifor & Martin Strobel, 2010. "Intellectual Infl uence: Quality versus Quantity," Working Paper Series 1009, Óbuda University, Keleti Faculty of Business and Management.
    19. David I. Stern, 2013. "Uncertainty Measures for Economics Journal Impact Factors," Journal of Economic Literature, American Economic Association, vol. 51(1), pages 173-189, March.
    20. Kóczy, L.Á. & Nichifor, A. & Strobel, M., 2009. "Article length bias in journal rankings," Research Memorandum 016, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).

    More about this item

    Keywords

    Network; Exchange economy; Competitive prices; Ranking; Economy-based ranking; PageRank; Taxation; Citation Count; Normalized citation count;
    All these keywords.

    JEL classification:

    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:gamebe:v:91:y:2015:i:c:p:1-13. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/622836 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.