Economics of Networks最新文献

{"title":"Acceptable Risk in a Two-Asset Game","authors":"Matjaž Steinbacher","doi":"10.2139/ssrn.1320993","DOIUrl":"https://doi.org/10.2139/ssrn.1320993","url":null,"abstract":"A social network model has been used to simulate how agents of different levels of risk aversion and the level of suspiciousness behave on a two-asset market when deciding between risk-free and a risky asset. The developments of the games are path-dependent. A significant feature of the paper is that mean returns of assets are a key determinant of the decision-making, while the variance as such is not. It has been demonstrated that the level of suspiciousness has a significant effect on the decision-making. Under most of the circumstances, pure risk-loving turns out to dominate over risk-aversion.","PeriodicalId":343564,"journal":{"name":"Economics of Networks","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-10-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129597344","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Internet Penetration and Capacity Utilization in the US Airline Industry","authors":"James D Dana, Eugene Orlov","doi":"10.2139/ssrn.1297341","DOIUrl":"https://doi.org/10.2139/ssrn.1297341","url":null,"abstract":"Airline capacity utilization increased dramatically between 1993 and 2007, after staying fairly level following deregulation. We argue that consumers' use of the Internet to investigate and purchase airline tickets reduces market frictions and allows airlines to meet demand with less capacity and higher load factors. We find that differences in the rate of change of metropolitan area Internet penetration are positively correlated with differences in the rate of change of airlines' airport-pair load factors. Consistent with our explanation, this correlation is greater on flights in more competitive markets and on flights with fewer total passengers.","PeriodicalId":343564,"journal":{"name":"Economics of Networks","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132617537","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Impact of Networking on Bank Financing: The Case of Small and Medium-Sized Enterprises in Vietnam","authors":"Ngoc-Thang B. Le, Thang V. Nguyen","doi":"10.1111/j.1540-6520.2009.00330.x","DOIUrl":"https://doi.org/10.1111/j.1540-6520.2009.00330.x","url":null,"abstract":"It is argued that networking is crucial for small and medium-sized enterprises (SMEs), particularly in emerging economies as they seek to access resources for development. One key resource in emerging economies is bank financing. In this paper, we develop a model that examines the net effect of different network ties on bank financing to private SMEs. The results support our hypothesis that different network ties influence SMEs' use of bank loans in different ways. Specifically, networking with customers and government officials promotes the use of bank loans, while networking with suppliers and social ties reduces the need for bank loans. This study provides a number of research and managerial implications, which are discussed at the end of the paper.","PeriodicalId":343564,"journal":{"name":"Economics of Networks","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122060796","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Pricing Banner Advertisements in an Online Social Network","authors":"S. Hunter","doi":"10.2139/ssrn.1418625","DOIUrl":"https://doi.org/10.2139/ssrn.1418625","url":null,"abstract":"This paper examines the impact of social capital on advertisement prices in an online social network. Specifically, I show that a widely-employed measure of social capital - network constraint - explains variation in prices of 846 banner advertisements appearing within a social network formed by 89 'Liberal' and 84 'Conservative' weblogs. As predicted, weblogs that bridge 'structural holes' between otherwise disconnected segments of the network command significantly higher prices for their advertisements.","PeriodicalId":343564,"journal":{"name":"Economics of Networks","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-06-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115106146","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Spread of (Mis)Information in Social Networks","authors":"D. Acemoglu, A. Ozdaglar, Ali ParandehGheibi","doi":"10.2139/ssrn.1401648","DOIUrl":"https://doi.org/10.2139/ssrn.1401648","url":null,"abstract":"We provide a model to investigate the tension between information aggregation and spread of misinformation. Individuals meet pairwise and exchange information, which is modeled as both individuals adopting the average of their pre-meeting beliefs. \"Forceful\" agents influence the beliefs of (some of) the other individuals they meet, but do not change their own opinions. We characterize how the presence of forceful agents interferes with information aggregation. Under the assumption that even forceful agents obtain some information from others, we first show that all beliefs converge to a stochastic consensus. Our main results quantify the extent of misinformation by providing bounds or exact results on the gap between the consensus value and the benchmark without forceful agents (where there is efficient information aggregation). The worst outcomes obtain when there are several forceful agents who update their beliefs only on the basis of information from individuals that have been influenced by them.","PeriodicalId":343564,"journal":{"name":"Economics of Networks","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-05-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125144281","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Social Contracts on Social Networks: Local Patterns of Interaction, Local Strategy Dynamics and the Emergence of Reciprocity","authors":"G. Jones, S. Brosnan","doi":"10.2139/ssrn.1376804","DOIUrl":"https://doi.org/10.2139/ssrn.1376804","url":null,"abstract":"Cooperation has been vital to the evolution of all living things, including single-celled organisms (Velicer, 2005, 2003; Velicer and Stredwick, 2002; Crespi, 2001; Velicer et al., 2000; Boorman and Levitt, 1980), fish (Brosnan et al., 2003; Dugatkin, 1991, 1992, 1997; Milinski, 1987), birds (Brown and Brown, 1996; Faaborg et al., 1995), canines (Creel and Creel, 2002; Courchamp and Macdonald, 2001; Fentress and Ryon, 1986), felines (Caro, 1994; Packer and Pusey, 1982), non-human primates (Brosnan and de Waal, 2003; de Waal, 1996, 1982; Harcourt and de Waal, 1992; Chapais, 1992), and humans (Ostrom et al., 1999; Fehr and Fischbacher, 2003; Johnson et al., 2003).Even so, the evolution of cooperative, prosocial behavior under circumstances in which individual interests are at odds with common interests, (circumstances characterized as social dilemmas (Gotts et al., 2003; Dawes and Messick, 2000)), remains a largely unsolved, multidisciplinary puzzle (Hammerstein, 2003). Approaches to these types of problems have, for the most part, been applications of evolutionary game theory (Gintis, 2000; Hofbauer and Sigmund, 1998; Maynard-Smith, 1982; Maynard-Smith and Price, 1973; Trivers, 1971; Hamilton, 1967; von Neumann and Morgenstern, 1944) and due to their importance as generalized models of many important socio-economic situations (Tomassini, 2006), iconic games such as the Prisoner’s Dilemma have been widely employed as metaphors (Doebeli and Hauert, 2005; Axelrod and Hamilton, 1981; Axelrod, 1984; Nowak and Sigmund, 1992, 2004; Nowak and May, 1992; Maynard-Smith, 1982; Sugden, 1986).","PeriodicalId":343564,"journal":{"name":"Economics of Networks","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128481949","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Asymmetric Network Effects","authors":"E. Cantillon, Pai-Ling Yin","doi":"10.2139/ssrn.1303624","DOIUrl":"https://doi.org/10.2139/ssrn.1303624","url":null,"abstract":"When platforms compete for consumers, two types of consumer heterogeneity will matter: consumers value the presence of other consumers on a platform differently, and consumers contribute to the value of the platform differently. The optimal discriminatory pricing policy for platforms will depend on whether those two dimensions of consumer heterogeneity are positively or negatively correlated, which is an empirical question. In a companion paper (Cantillon & Yin, 2008), we study membership decisions of trading firms for two competing exchanges: LIFFE and DTB. Our analysis shows that different traders care about liquidity differently. In this paper, we estimate the heterogeneous contribution to liquidity by different types. We combine the estimates from both papers of heterogeneous preferences and contributions to liquidity. We find that valuations of liquidity tend to be correlated with contributions to liquidity in this setting.","PeriodicalId":343564,"journal":{"name":"Economics of Networks","volume":"149 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-03-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132825611","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Costs and Benefits of Parsimony - Measuring Egocentric Social Networks and Social Support in Survey Research [Kosten und Nutzen der Sparsamkeit - Zur Erhebung sozialer Netzwerke und sozialer Unterstuetzungspotentiale in der Umfrageforschung]","authors":"S. Sattler, M. Diewald","doi":"10.2139/SSRN.1358760","DOIUrl":"https://doi.org/10.2139/SSRN.1358760","url":null,"abstract":"Measuring ego-centered networks is an especially time-expensive endeavor. However, to be included in multi-thematic surveys, parsimony is needed instead of following a maximizing strategy. Therefore, one pressing questions is, whether and which type of parsimonious data collection produces what losses of information. We address these questions by comparing three different, but closely related operationalizations of ego-centered networks in three different surveys: the German Socio-Economic Panel Study as a multi-thematic large-scale survey, IDUN as a small study designed as a single-purpose instrument to measure egocentered networks in great detail, and the \"Minipanel\" as something in between these two. Different setup parameters are the number and type of name generators and descriptors of alteri and a numerical limitation of naming ties. We look specifically whether there are effects on the size of the networks, the composition of networks, and the sociostructural differences with regard to availability of positive aspects of social networks, especially different types of social support. Additionally, we examine the differences between effects of network variables on perceived satisfaction in the surveys. Among others, and above the highly expectable differences in network size, we find an effect of different operationalizations on the network composition. Compared to IDUN, GSOEP produces a considerable overestimation of family ties and a considerable underestimation of relations stemming from school, vocational training and leisure time. We show that specific strategies of parsimony not only lead to losses of information and distortions of network characteristics but can lead in addition to different conclusions about the availability of social capital.","PeriodicalId":343564,"journal":{"name":"Economics of Networks","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117037458","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Voting Paradox and Social Networks: An Empirical Analysis","authors":"J. Amaro de Matos, P. Barros, Inacia Pacheco Pereira","doi":"10.2139/ssrn.1354790","DOIUrl":"https://doi.org/10.2139/ssrn.1354790","url":null,"abstract":"The level of abstention in elections has been increasing over the years in the majority of democratic countries, whether compulsory voting exists or not. We provide empirical evidence for the role of social networks as a main factor of influence in the turnout of an election. More intense social networks and wider social networks are associated with a lower abstention rate.","PeriodicalId":343564,"journal":{"name":"Economics of Networks","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123847479","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Do Friends Influence Purchases in a Social Network?","authors":"R. Iyengar, Sangman Han, Sunil Gupta","doi":"10.2139/ssrn.1392172","DOIUrl":"https://doi.org/10.2139/ssrn.1392172","url":null,"abstract":"Social networks, such as Facebook and Myspace have witnessed a rapid growth in their membership. Some of these businesses have tried an advertising-based model with very limited success. However, these businesses have not fully explored the power of their members to influence each other’s behavior. This potential viral or social effect can have significant impact on the success of these companies as well as provide a unique new marketing opportunity for traditional companies. However, this potential is predicated on the assumption that friends influence user’s behavior. In this study we empirically examine this issue. Specifically we address three questions - do friends influence purchases of users in an online social network; which users are more influenced by this social pressure; and can we quantify this social influence in terms of increase in sales and revenue. To address these questions we use data from Cyworld, an online social networking site in Korea. Cyworld users create mini-homepages to interact with their friends. These mini-homepages, which become a way of self-expression for members, are decorated with items (e.g., wallpaper, music), many of which are sold by Cyworld. Using 10 weeks of purchase and non-purchase data from 208 users, we build an individual level model of choice (buy - no-buy) and quantity (how much money to spend). We estimate this model using Bayesian approach and MCMC method. Our results show that there are three distinct groups of users with very different behavior. The low-status group (48% of users) are not well connected, show limited interaction with other members and are unaffected by social pressure. The middle-status group (40% users) is moderately connected, show reasonable non-purchase activity on the site and have a strong and positive effect due to friends’ purchases. In other words, this group exhibits “keeping up with the Joneses” behavior. On average, their revenue increases by 5% due to this social influence. The high-status group (12% users) is well connected and very active on the site, and shows a significant negative effect due to friends’ purchases. In other words, this group differentiates itself from others by lowering their purchase and strongly pursuing non-purchase related activities. This social influence leads to almost 14% drop in the revenue of this group. We discuss the theoretical and managerial implications of our results.","PeriodicalId":343564,"journal":{"name":"Economics of Networks","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2009-02-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128483845","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}