The Economics of Small Worlds

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The Economics of Small Worlds

Author Info

Matthew O. Jackson (California Institute of Technology,)
Brian W. Rogers (California Institute of Technology,)

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Abstract

We examine a simple economic model of network formation where agents benefit from indirect relationships. We show that small-world features-short path lengths between nodes together with highly clustered link structures-necessarily emerge for a wide set of parameters. (JEL: D85, A14, C72) Copyright (c) 2005 The European Economic Association.

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Publisher Info
Article provided by MIT Press in its journal Journal of the European Economic Association.

Volume (Year): 3 (2005)
Issue (Month): 2-3 (04/05)
Pages: 617-627
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Handle: RePEc:tpr:jeurec:v:3:y:2005:i:2-3:p:617-627

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Paper
- Matthew O. Jackson & Brian W. Rogers, 2005. "The Economics of Small Worlds," Game Theory and Information 0503004, EconWPA. [Downloadable!]
- Jackson, Matthew O. & Rogers, Brian W., 2005. "The economics of small worlds," Working Papers 1214, California Institute of Technology, Division of the Humanities and Social Sciences. [Downloadable!]

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Matthew O. Jackson, . "A Survey of Models of Network Formation: Stability and Efficiency," Grand Coalition 16, Grand Coalition Web Site. [Downloadable!]
Other versions:
- Matthew O. Jackson, 2003. "A survey of models of network formation: Stability and efficiency," Working Papers 1161, California Institute of Technology, Division of the Humanities and Social Sciences. [Downloadable!]
- Matthew O. Jackson, 2003. "A Survey of Models of Network Formation: Stability and Efficiency," Game Theory and Information 0303011, EconWPA. [Downloadable!]
Andrea Galeotti & Sanjeev Goyal & Jurjen Kamphorst, 2003. "Network Formation with Heterogeneous Players," Economics Discussion Papers 562, University of Essex, Department of Economics. [Downloadable!]
Other versions:
- Andrea Galeotti & Sanjeev Goyal, 2002. "Network Formation with Heterogeneous Players," Tinbergen Institute Discussion Papers 02-069/1, Tinbergen Institute. [Downloadable!]
- Galeotti, Andrea & Goyal, Sanjeev & Kamphorst, Jurjen, 2006. "Network formation with heterogeneous players," Games and Economic Behavior, Elsevier, vol. 54(2), pages 353-372, February. [Downloadable!] (restricted)
Jackson, Matthew O. & Wolinsky, Asher, 1996. "A Strategic Model of Social and Economic Networks," Journal of Economic Theory, Elsevier, vol. 71(1), pages 44-74, October. [Downloadable!] (restricted)
Other versions:
- Matthew O. Jackson & Asher Wolinsky, 1995. "A Strategic Model of Social and Economic Networks," Discussion Papers 1098R, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
- Matthew O. Jackson & Asher Wolinsky, 1994. "A Strategic Model of Social and Economic Networks," Discussion Papers 1098, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]

Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

R. Andergassen & F. Nardini & M. Ricottilli, 2005. "Firms' Network Formation Through the Transmission of Heterogeneous Knowledge," Working Papers 543, Dipartimento Scienze Economiche, Università di Bologna. [Downloadable!]
Matthew O. Jackson & Brian W. Rogers, 2005. "Search in the Formation of Large Networks: How Random are Socially Generated Networks?," Game Theory and Information 0503005, EconWPA. [Downloadable!]
Other versions:
- Jackson, Matthew O. & Rogers, Brian W., 2005. "Search in the formation of large networks: How random are socially generated networks?," Working Papers 1216, California Institute of Technology, Division of the Humanities and Social Sciences. [Downloadable!]
Michael McBride, 2006. "Limited Observation in Mutual Consent Networks," Advances in Theoretical Economics, Berkeley Electronic Press, vol. 6(1), pages 1314-1314. [Downloadable!] (restricted)
Arun Sundararajan, 2008. "Local Network Effects and Complex Network Structure," Contributions to Theoretical Economics, Berkeley Electronic Press, vol. 7(1), pages 1319-1319. [Downloadable!] (restricted)

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