Statistical Equilibrium Models for Sparse Economic Networks

Leonardo Bargigli ()

Working Papers - Economics from Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa

Abstract: Real markets can be naturally represented as networks, and they share with other social networks the fundamental property of sparsity, whereby agents are connected by l = O (n) relationships. The exponential networks model introduced by Park and Newman can be extended in order to deal with this property. When compared with alternative statistical models of a given real network, this extended model provides a better statistical justification for the observed network values. Consequently, it provides more reliable maximum entropy estimates of partially known networks than previously known ME techniques.

Keywords: networks (search for similar items in EconPapers)
JEL-codes: C49 C63 D85 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2013
New Economics Papers: this item is included in nep-ecm and nep-net
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