The Emergence of Leadership in Social Networks
AbstractWe study a networked version of the minority game in which agents can choose to follow the choices made by a neighbouring agent in a social network. We show that for a wide variety of networks a leadership structure always emerges, with most agents following the choice made by a few agents. We find a suitable parameterisation which highlights the universal aspects of the behaviour and which also indicates where results depend on the type of social network.
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Bibliographic InfoPaper provided by arXiv.org in its series Papers with number 1106.0296.
Date of creation: Jun 2011
Date of revision: Nov 2011
Publication status: Published in Physica A 391 (2012) 1434-1444
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Web page: http://arxiv.org/
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-06-11 (All new papers)
- NEP-GTH-2011-06-11 (Game Theory)
- NEP-NET-2011-06-11 (Network Economics)
- NEP-SOC-2011-06-11 (Social Norms & Social Capital)
- NEP-URE-2011-06-11 (Urban & Real Estate Economics)
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- Challet, Damien & Marsili, Matteo & Zhang, Yi-Cheng, 2004.
"Minority Games: Interacting agents in financial markets,"
Oxford University Press, number 9780198566403.
- Challet, Damien & Marsili, Matteo & Zhang, Yi-Cheng, 2013. "Minority Games: Interacting agents in financial markets," OUP Catalogue, Oxford University Press, number 9780199686698.
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