Connectors and Influencers
Syngjoo Choi (),
Sanjeev Goyal and
Cambridge Working Papers in Economics from Faculty of Economics, University of Cambridge
The theory of network formation yields sharp predictions on network structure. Existing experiments on network formation generally reject these predictions. These findings raise a question mark about the validity of an economic approach to understanding networks. The present paper develops a new experimental platform to study network formation. The platform integrates a network visualization tool with interactive asynchronous choices in continuous time. The platform allows for large groups of up to 100 subjects in the laboratory. The platform is used to test a model of linking formation and efforts. This model predicts that equilibrium networks have a ‘star’ like structure and that individual efforts are highly specialized. Our experiments offer robust evidence in support of these predictions.
JEL-codes: C92 D83 D85 Z13 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cdm, nep-exp, nep-gth and nep-soc
Note: sg472, fm442
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Persistent link: https://EconPapers.repec.org/RePEc:cam:camdae:1935
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