The Economics of Small Worlds
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. (JEL: D85, A14, C72) Copyright (c) 2005 The European Economic Association.
Volume (Year): 3 (2005)
Issue (Month): 2-3 (04/05)
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- Jackson, Matthew O. & Wolinsky, Asher, 1996.
"A Strategic Model of Social and Economic Networks,"
Journal of Economic Theory,
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- Matthew O. Jackson & Asher Wolinsky, 1994. "A Strategic Model of Social and Economic Networks," Discussion Papers 1098, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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- Andrea Galeotti & Sanjeev Goyal & Jurjen Kamphorst, 2003.
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562, University of Essex, Department of Economics.
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