Self-organization of knowledge economies

François Lafond

Journal of Economic Dynamics and Control, 2015, vol. 52, issue C, 150-165

Abstract: Suppose that homogeneous agents fully consume their time to invent new ideas and learn ideas from their friends. If the social network is complete and agents pick friends and ideas of friends uniformly at random, the distribution of ideas׳ popularity is an extension of the Yule–Simon distribution. It has a power-law tail, with an upward or a downward curvature. For infinite population it converges to the Yule–Simon distribution. The power law is steeper when innovation is high. Diffusion follows logistic curves.

Keywords: Innovation; Diffusion; Two-mode networks; Power law (search for similar items in EconPapers)
JEL-codes: D83 D85 O31 O33 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:dyncon:v:52:y:2015:i:c:p:150-165

DOI: 10.1016/j.jedc.2014.12.004

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