Network effects in a human capital based economic growth model
AbstractWe revisit a recently introduced agent model [ACS, 11, 99 (2008)], where economic growth is a consequence of education (human capital formation) and innovation, and investigate the influence of the agents’ social network, both on an agent’s decision to pursue education and on the output of new ideas. Regular and random networks are considered. The results are compared with the predictions of a mean field (representative agent) model.
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Bibliographic InfoArticle provided by Elsevier in its journal Physica A: Statistical Mechanics and its Applications.
Volume (Year): 388 (2009)
Issue (Month): 11 ()
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Web page: http://www.journals.elsevier.com/physica-a-statistical-mechpplications/
Econophysics; Agent based models; Human capital; Complex networks;
Other versions of this item:
- Teresa Vaz Martins & Tanya Araujo & Maria Augusta Santos & Miguel St Aubyn, 2008. "Network effects in a human capital based economic growth model," Papers 0809.3418, arXiv.org, revised Feb 2009.
- Teresa V. Martins & Tanya Araújo & Maria A. Santos & Miguel St Aubyn, 2008. "Network Effects in a Human Capital Based Economic Growth Model," Working Papers Department of Economics 2008/44, ISEG - School of Economics and Management, Department of Economics, University of Lisbon.
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LEM Papers Series
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