Publication: Effort and synergies in network formation
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2007-02
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Abstract
The aim of this paper is to understand the interactions between productive effort and the
creation of synergies that are the sources of technological collaboration agreements,
agglomeration, social stratification, etc. We model this interaction in a way that allows
us to characterize how agents devote resources to both activities. This permits a fullfledged
equilibrium/welfare analysis of network formation with endogenous investment
efforts and to derive unambiguous comparative statics results. In spite of its parsimony
that ensures tractability, the model retains enough richness to replicate a (relatively)
broad range of empirical regularities displayed by social and economic networks, and is
directly estimable to recover is structural parameters.
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Random network, Spillovers, Network formation, Network topology