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An Equilibrium-Correction Model for Dynamic Network Data

Author

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  • Dekker, D.J.
  • Franses, Ph.H.B.F.
  • Krackhardt, D.

Abstract

We propose a two-stage MRQAP to analyze dynamic network data, within the framework of an equilibrium-correction (EC) model. Extensive simulation results indicate practical relevance of our method and its improvement over standard OLS. An empirical illustration additionally shows that the EC model yields interpretable parameters, in contrast to an unrestricted dynamic model.

Suggested Citation

  • Dekker, D.J. & Franses, Ph.H.B.F. & Krackhardt, D., 2001. "An Equilibrium-Correction Model for Dynamic Network Data," ERIM Report Series Research in Management ERS-2001-39-MKT, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    • Handle: RePEc:ems:eureri:100
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    File URL: https://repub.eur.nl/pub/100/erimrs20010620164657.pdf
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    References listed on IDEAS

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    1. Gerhard G. Van De Bunt & Marijtje A.J. Van Duijn & Tom A.B. Snijders, 1999. "Friendship Networks Through Time: An Actor-Oriented Dynamic Statistical Network Model," Computational and Mathematical Organization Theory, Springer, vol. 5(2), pages 167-192, July.
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    Cited by:

    1. Buechel, Berno & Buskens, Vincent, 2011. "The dynamics of closeness and betweenness," Center for Mathematical Economics Working Papers 398, Center for Mathematical Economics, Bielefeld University.
    2. Aalbers, Rick & Dolfsma, Wilfred & Koppius, Otto, 2013. "Individual connectedness in innovation networks: On the role of individual motivation," Research Policy, Elsevier, vol. 42(3), pages 624-634.
    3. Dekker, D.J. & Krackhardt, D. & Franses, Ph.H.B.F., 2002. "Dynamic Effects of Trust and Cognitive Social Structures on Information Transfer Relationships," ERIM Report Series Research in Management ERS-2002-33-MKT, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.

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    More about this item

    Keywords

    cognitive social structures; consistent accuracy; network centrality; structural autocorrelation; two-stage equilibrium model;
    All these keywords.

    JEL classification:

    • C44 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Operations Research; Statistical Decision Theory
    • C59 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Other
    • M - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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