Network effects in a human capital based economic growth model

Teresa Vaz Martins, Tanya Araujo, Maria Augusta Santos and Miguel St. Aubyn ()

Quantitative Finance Papers from arXiv.org

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.

Date: 2008-09, Revised 2009-02
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Working Paper: Network Effects in a Human Capital Based Economic Growth Model (2008)
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Persistent link: http://EconPapers.repec.org/RePEc:arx:papers:0809.3418

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