Related papers: Class formation in a social network with asset exc…
The structure of large-scale social networks has predominantly been articulated using generative models, a form of average-case analysis. This chapter surveys recent proposals of more robust models of such networks. These models posit…
The network of interpersonal connections is one of the possible heterogeneous factors which affect the income distribution emerging from micro-to-macro economic models. In this paper we equip our model discussed in [1,2] with a network…
We investigate the uniform reshuffling model for money exchanges: two agents picked uniformly at random redistribute their dollars between them. This stochastic dynamics is of mean-field type and eventually leads to a exponential…
A money transfer involves a buyer and a seller. A buyer buys goods or services from a seller. The money the buyer decreases is the same as that the seller increases. At each time step, a pair of socially connected agents are selected and…
We study a general set of models of social network evolution and dynamics. The models consist of both a dynamics on the network and evolution of the network. Links are formed preferentially between 'similar' nodes, where the similarity is…
We consider the ideal-gas models of trading markets, where each agent is identified with a gas molecule and each trading as an elastic or money-conserving (two-body) collision. Unlike in the ideal gas, we introduce saving propensity…
For a class of stochastic dynamical models of exchange economies that we call ``fully connected Cobb-Douglas'', the paper proves convergence of the probability distribution to an equilibrium, in total variation metric as time goes to…
It is not uncommon for certain social networks to divide into two opposing camps in response to stress. This happens, for example, in networks of political parties during winner-takes-all elections, in networks of companies competing to…
Network Creation Games are an important framework for understanding the formation of real-world networks. These games usually assume a set of indistinguishable agents strategically buying edges at a uniform price leading to a network among…
In this work we study spin-glass (SG) like behavior in the dynamics of multiple agents in a social or economic context using interactions which are similar to the physical case. The different preferences shown by individual agents are…
The spontaneous formation and subsequent growth, dissolution, merger and competition of social groups bears similarities to physical phase transitions in metastable finite systems. We examine three different scenarios, percolation, spinodal…
In this paper we discuss some examples of systems composed of $N$ units, which exchange a conserved quantity $x$ according to some given stochastic rule, from some standard kinetic model of condensed matter physics to the kinetic exchange…
In this paper, we investigate the economic mobility in some money transfer models which have been applied into the research on wealth distribution. We demonstrate the mobility by recording the time series of agents' ranks and observing…
A new simple model of diffusion of innovations in a social network with upgrading costs is introduced. Agents are characterized by a single real variable, their technological level. According to local information agents decide whether to…
We study the effect of altruism in two simple asset exchange models: the yard sale model (winner gets a random fraction of the poorer player's wealth) and the theft and fraud model (winner gets a random fraction of the loser's wealth). We…
Network datasets typically exhibit certain types of statistical dependencies, such as within-dyad correlation, row and column heterogeneity, and third-order dependence patterns such as transitivity and clustering. The first two of these can…
Situations where individuals have to contribute to joint efforts or share scarce resources are ubiquitous. Yet, without proper mechanisms to ensure cooperation, the evolutionary pressure to maximize individual success tends to create a…
People choose friendships with people similar to themselves, i.e. they sort by resemblence. Economic studies have shown when sorting is optimal and constitute an equilibrium, however, this presumes lack of beneficial spillovers. We…
A detailed empirical analysis of the productivity of non financial firms across several countries and years shows that productivity follows a non-Gaussian distribution with power law tails. We demonstrate that these empirical findings can…
We study the collective behavior of interacting agents in a simple model of market economics originally introduced by N{\o}rrelykke and Bak. A general theoretical framework for interacting traders on an arbitrary network is presented, with…