Network effects in a human capital based economic growth model
We revisit a recently introduced agent model [ACS, 11, 99 (2008)], where economic growth is a consequence of education (human capital formation) and innovation, and investigate the influence of the agents’ social network, both on an agent’s decision to pursue education and on the output of new ideas. Regular and random networks are considered. The results are compared with the predictions of a mean field (representative agent) model.
Volume (Year): 388 (2009)
Issue (Month): 11 ()
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- Tanya Araújo & Miguel St. Aubyn, 2008.
"Education, Neighborhood Effects And Growth: An Agent-Based Model Approach,"
Advances in Complex Systems (ACS),
World Scientific Publishing Co. Pte. Ltd., vol. 11(01), pages 99-117.
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- Silverberg, Gerald & Verspagen, Bart, 1994. "Collective Learning, Innovation and Growth in a Boundedly Rational, Evolutionary World," Journal of Evolutionary Economics, Springer, vol. 4(3), pages 207-226, September.
- Chiaromonte, Francesca & Dosi, Giovanni, 1993. "Heterogeneity, competition, and macroeconomic dynamics," Structural Change and Economic Dynamics, Elsevier, vol. 4(1), pages 39-63, June.
- Q. Michard & J.-P. Bouchaud, 2005. "Theory of collective opinion shifts: from smooth trends to abrupt swings," The European Physical Journal B: Condensed Matter and Complex Systems, Springer;EDP Sciences, vol. 47(1), pages 151-159, 09. Full references (including those not matched with items on IDEAS)
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