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Economics: An Emerging Small World?

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Author Info
Sanjeev Goyal () (Faculty of Economics, Erasmus Universiteit Rotterdam, and University of Essex)
Marco van der Leij () (Faculty of Economics, Erasmus Universiteit Rotterdam)
José Luis Moraga-González () (Groningen University)

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Abstract

This paper examines the small world hypothesis. The first part of the paper presents empirical evidence on the evolution of a particular world: the world of journal publishing economists during the period 1970-2000. We find that in the 1970's the world of economics was a collection of islands. Two decades later, in the 1990's the world of economics was much more integrated, with the largest island covering close to half of the population. At the same time, the distance between individuals on the largest island had fallen significantly. Thus we believe that economics is an emerging small world. An exploration of the micro aspects of the network yields three findings: one, the average number of co-authors is very small but increasing; two, the distribution of co-authors is very unequal; and three, there exist a number of `stars', individuals who have a large number of co-authors. Thus the economics world is a set of inter-connected stars. We take the view that individuals decide on whether to work alone or with others; this means that individual incentives should help us understand why the economics world has the structure it does. The second part of the paper develops a simple theoretical model of co-authorship. The main finding of the model is that in the presence of productivity differentials and a shortage of high productivity individuals, inter-connected stars will arise naturally in equilibrium.

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Paper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 04-001/1.

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Date of creation: 05 Jan 2004
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Handle: RePEc:dgr:uvatin:20040001

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Related research
Keywords: small world economics research networks coauthorship hierarchy

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Find related papers by JEL classification:
A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
D20 - Microeconomics - - Production and Organizations - - - General
J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts
L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
O30 - Economic Development, Technological Change, and Growth - - Technological Change - - - General

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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.:
  1. McDowell, John M & Melvin, Michael, 1983. "The Determinants of Co-Authorship: An Analysis of the Economics Literature," The Review of Economics and Statistics, MIT Press, vol. 65(1), pages 155-60, February. [Downloadable!] (restricted)
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  4. Sanjeev Goyal, 2003. "Learning in Networks: a survey," Economics Discussion Papers 563, University of Essex, Department of Economics. [Downloadable!]
  5. Tanya S. Rosenblat & Markus M. Mobius, 2004. "Getting Closer or Drifting Apart?," The Quarterly Journal of Economics, MIT Press, vol. 119(3), pages 971-1009, August. [Downloadable!] (restricted)
  6. Venkatesh Bala & Sanjeev Goyal, 2000. "A Noncooperative Model of Network Formation," Econometrica, Econometric Society, vol. 68(5), pages 1181-1230, September.
  7. Ellison, Glenn & Fudenberg, Drew, 1993. "Rules of Thumb for Social Learning," Journal of Political Economy, University of Chicago Press, vol. 101(4), pages 612-43, August. [Downloadable!] (restricted)
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  8. Franklin Allen & Douglas Gale, 1998. "Financial Contagion Journal of Political Economy," Center for Financial Institutions Working Papers 98-31, Wharton School Center for Financial Institutions, University of Pennsylvania. [Downloadable!]
  9. Glenn Ellison, 2002. "The Slowdown of the Economics Publishing Process," Journal of Political Economy, University of Chicago Press, vol. 110(5), pages 947-993, October. [Downloadable!] (restricted)
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  10. Glaeser, Edward L & Sacerdote, Bruce & Scheinkman, Jose A, 1996. "Crime and Social Interactions," The Quarterly Journal of Economics, MIT Press, vol. 111(2), pages 507-48, May. [Downloadable!] (restricted)
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  11. Matthew O. Jackson, 2003. "A Survey of Models of Network Formation: Stability and Efficiency," Game Theory and Information 0303011, EconWPA. [Downloadable!]
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  12. Rachel E. Kranton & Deborah F. Minehart, 2001. "A Theory of Buyer-Seller Networks," American Economic Review, American Economic Association, vol. 91(3), pages 485-508, June. [Downloadable!] (restricted)
  13. Kaivan Munshi, 2003. "Networks In The Modern Economy: Mexican Migrants In The U.S. Labor Market," The Quarterly Journal of Economics, MIT Press, vol. 118(2), pages 549-599, May. [Downloadable!] (restricted)
  14. repec:att:wimass:199612r is not listed on IDEAS
  15. Bala, Venkatesh & Goyal, Sanjeev, 1998. "Learning from Neighbours," Review of Economic Studies, Blackwell Publishing, vol. 65(3), pages 595-621, July. [Downloadable!] (restricted)
  16. Anne van den Nouweland, 2003. "Models of Network Formation in Cooperative Games," Grand Coalition 13, Grand Coalition Web Site. [Downloadable!]
  17. Glenn Ellison, 2000. "Evolving Standards for Academic Publishing: A q-r Theory," NBER Working Papers 7805, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  18. Daniel S. Hamermesh & Sharon M. Oster, 2002. "Tools or Toys? The Impact of High Technology on Scholarly Productivity," Economic Inquiry, Oxford University Press, vol. 40(4), pages 539-555, October.
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