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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