Networks: Theory and Applications

نویسنده

  • Yves Zenou
چکیده

It has been recognized for a long time that non-market interactions, i.e. interactions between agents that are not mediated by the market, are crucial to explain different economic phenomena such as stock market crashes, growth, education, religion, crime, etc. (for recent surveys, see Glaeser and Scheinkman, 2002, and Durlauf, 2004). In these models, the marginal utility to one person of undertaking an action is a function of the average amount of the action taken by her peers. Peer effects are an intragroup externality, homogeneous across group members, that captures the average influence that members exert on each other.

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تاریخ انتشار 2007