Statistical Equilibrium Models for Sparse Economic Networks
Real markets can be naturally represented as networks, and they share with other social networks the fundamental property of sparsity, whereby agents are connected by l = O (n) relationships. The exponential networks model introduced by Park and Newman can be extended in order to deal with this property. When compared with alternative statistical models of a given real network, this extended model provides a better statistical justification for the observed network values. Consequently, it provides more reliable maximum entropy estimates of partially known networks than previously known ME techniques.
|Date of creation:||2013|
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- Bargigli, Leonardo & Gallegati, Mauro, 2011.
"Random digraphs with given expected degree sequences: A model for economic networks,"
Journal of Economic Behavior & Organization,
Elsevier, vol. 78(3), pages 396-411, May.
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- Stefano Viaggiu & Andrea Lionetto & Leonardo Bargigli & Michele Longo, 2011. "Statistical ensembles for money and debt," Papers 1109.0891, arXiv.org, revised Jul 2012.
- Iacopo Mastromatteo & Elia Zarinelli & Matteo Marsili, 2011. "Reconstruction of financial network for robust estimation of systemic risk," Papers 1109.6210, arXiv.org, revised Feb 2012.
- Iori, Giulia & De Masi, Giulia & Precup, Ovidiu Vasile & Gabbi, Giampaolo & Caldarelli, Guido, 2008. "A network analysis of the Italian overnight money market," Journal of Economic Dynamics and Control, Elsevier, vol. 32(1), pages 259-278, January.
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