Network effects in a human capital based economic growth model
General Finance
2009-11-13 v2 Physics and Society
Abstract
We revisit a recently introduced agent model[ACS {\bf 11}, 99 (2008)], where economic growth is a consequence of education (human capital formation) and innovation, and investigate the influence of the agents' social network, both on an agent's decision to pursue education and on the output of new ideas. Regular and random networks are considered. The results are compared with the predictions of a mean field (representative agent) model.
Keywords
Cite
@article{arxiv.0809.3418,
title = {Network effects in a human capital based economic growth model},
author = {Teresa Vaz Martins and Tanya Araujo and Maria Augusta Santos and Miguel St Aubyn},
journal= {arXiv preprint arXiv:0809.3418},
year = {2009}
}
Comments
to appear in Physica A