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Economics: An Emerging Small World?

Author

Listed:
  • Sanjeev Goyal

    (University of Essex and Tinbergen Institute)

  • Marco van der Leij

    (Tinbergen Institute, Erasmus University Rotterdam)

  • José Luis Moraga-Gonzàlez

    (Erasmus University Rotterdam, Tinbergen Institute and CESifo)

Abstract

The structures of social interaction affect individual behavior and economic performance in important ways. This leads us to ask: does the architecture of social interaction exhibit particular patterns and are these patterns stable over time? We examine interaction among economists by looking at the evolution of co-authorship relations over a thirty year period. We find that in the 1970's this world was quite fragmented with the largest interconnected group { the giant component { covering only 15% of the population. However, by the 1990's economics was much more integrated, with the giant component covering over 40% of the population. The average distance between individuals was small and declined over the period, leading us to conclude that economics is an emerging small world. A crucial stable feature of the network over this period is the existence of several stars (economists with many co-authors each of whom have few collaborators and rarely work among themselves). The world of economics is thus a collection of inter-linked stars. We also find that a growth in the average number of co-authors is the main reason behind the growth in the giant component and the fall in average distances within it. The second part of the paper develops a simple theoretical model of collaboration in economics. We find that an unequal distribution of collaborations and inter- linked stars arise naturally in this environment. Falling costs of communication and increasing credit for joint research lead to greater co-authorship and this supports a larger giant component.

Suggested Citation

  • Sanjeev Goyal & Marco van der Leij & José Luis Moraga-Gonzàlez, 2004. "Economics: An Emerging Small World?," Working Papers 2004.84, Fondazione Eni Enrico Mattei.
  • Handle: RePEc:fem:femwpa:2004.84
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    References listed on IDEAS

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    More about this item

    Keywords

    Small worlds; Networks; Global village;

    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists

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