The Economics of Small Worlds
AbstractWe 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.
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Bibliographic InfoPaper provided by EconWPA in its series Game Theory and Information with number 0503004.
Length: 10 pages
Date of creation: 14 Mar 2005
Date of revision:
Note: Type of Document - pdf; pages: 10
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networks; small worlds;
Other versions of this item:
- A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-04-16 (All new papers)
- NEP-GTH-2005-04-16 (Game Theory)
- NEP-NET-2005-04-16 (Network Economics)
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 & Asher Wolinsky, 1994.
"A Strategic Model of Social and Economic Networks,"
1098, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Andrea Galeotti & Sanjeev Goyal, 2002.
"Network Formation with Heterogeneous Players,"
Tinbergen Institute Discussion Papers
02-069/1, Tinbergen Institute.
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