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The coevolution of individual economic characteristics and socioeconomic networks

Author

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  • Stauffer, Dietrich
  • Hohnisch, Martin
  • Pittnauer, Sabine

Abstract

The dynamics of individual characteristics of economic agents is modeled with the link structure influenced by this dynamics: links between agents with similar characteristics are more stable than those between agents with vastly different characteristics. A simple scaling law describes the number of distinct surviving characteristic realizations as a function of the number of agents and the number of possible distinct characteristics realizations. With the chosen specification, the investigated properties do not essentially differ from those found for analogous sociophysics models with a fixed network structure.

Suggested Citation

  • Stauffer, Dietrich & Hohnisch, Martin & Pittnauer, Sabine, 2006. "The coevolution of individual economic characteristics and socioeconomic networks," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 370(2), pages 734-740.
    • Handle: RePEc:eee:phsmap:v:370:y:2006:i:2:p:734-740
    DOI: 10.1016/j.physa.2006.05.033
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    References listed on IDEAS

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    1. Francesco C. Billari & Thomas Fent & Alexia Prskawetz & Jürgen Scheffran (ed.), 2006. "Agent-Based Computational Modelling," Contributions to Economics, Springer, number 978-3-7908-1721-8, October.
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