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The Economics of Small Worlds

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Author Info

  • Matthew O. Jackson

    (Caltech)

  • Brian W. Rogers

    (Caltech)

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.

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File URL: http://128.118.178.162/eps/game/papers/0503/0503004.pdf
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Bibliographic Info

Paper provided by EconWPA in its series Game Theory and Information with number 0503004.

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Length: 10 pages
Date of creation: 14 Mar 2005
Date of revision:
Handle: RePEc:wpa:wuwpga:0503004

Note: Type of Document - pdf; pages: 10
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Web page: http://128.118.178.162

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Keywords: networks; small worlds;

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References

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  1. 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.
  2. Andrea Galeotti & Sanjeev Goyal & Jurjen Kamphorst, 2003. "Network Formation with Heterogeneous Players," Economics Discussion Papers 562, University of Essex, Department of Economics.
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Citations

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Cited by:
  1. Dotan Persitz, 2009. "Power in the Heterogeneous Connections Model: The Emergence of Core-Periphery Networks," Working Papers 2009.42, Fondazione Eni Enrico Mattei.
  2. Carayol, Nicolas & Roux, Pascale, 2009. "Knowledge flows and the geography of networks: A strategic model of small world formation," Journal of Economic Behavior & Organization, Elsevier, vol. 71(2), pages 414-427, August.
  3. Ackland, Robert & Shorish, Jamsheed, 2007. "Network Formation in the Political Blogosphere. An Application of Agent Based Simulation and e-Research Tools," Economics Series 218, Institute for Advanced Studies.
  4. Cowan, Robin & Jonard, Nicolas & Sanditov, Bulat, 2009. "Fits and Misfits: Technological Matching and R&D Networks," UNU-MERIT Working Paper Series 042, United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology.
  5. Yannis M. Ioannides, 2005. "Random Graphs and Social Networks: An Economics Perspective," Discussion Papers Series, Department of Economics, Tufts University 0518, Department of Economics, Tufts University.
  6. Marco van der Leij & Jaromir Kovarik, 2012. "Risk aversion and social networks," Working Papers. Serie AD 2012-01, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  7. Carayol, Nicolas & Roux, Pascale & YIldIzoGlu, Murat, 2008. "Inefficiencies in a model of spatial networks formation with positive externalities," Journal of Economic Behavior & Organization, Elsevier, vol. 67(2), pages 495-511, August.
  8. Breitmoser, Yves & Vorjohann, Pauline, 2012. "Efficient structure of noisy communication networks," MPRA Paper 42862, University Library of Munich, Germany.
  9. Mian, Atif & Abid, Qamar & Khwaja, Asim Ijaz, 2011. "Bank Credit And Business Networks," Scholarly Articles 4876870, Harvard Kennedy School of Government.
  10. Mauro Caminati, 2012. "Self sustaining R&D networks," Department of Economics University of Siena 653, Department of Economics, University of Siena.
  11. 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.
  12. Bandiera, Oriana & Barankay, Iwan & Rasul, Imran, 2008. "Social capital in the workplace: Evidence on its formation and consequences," Labour Economics, Elsevier, vol. 15(4), pages 724-748, August.
  13. R. Andergassen & F. Nardini & M. Ricottilli, 2005. "Firms' Network Formation Through the Transmission of Heterogeneous Knowledge," Working Papers 543, Dipartimento Scienze Economiche, Universita' di Bologna.
  14. Mark Bowden & Stuart McDonald, 2008. "The Impact of Interaction and Social Learning on Aggregate Expectations," Computational Economics, Society for Computational Economics, vol. 31(3), pages 289-306, April.
  15. Cont, Rama & Löwe, Matthias, 2010. "Social distance, heterogeneity and social interactions," Journal of Mathematical Economics, Elsevier, vol. 46(4), pages 572-590, July.
  16. Andrea Galeotti & Christian Ghiglino & Francesco Squintani, 2009. "Strategic Information Transmission in Networks," Economics Discussion Papers 668, University of Essex, Department of Economics.

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