Social and Economic Networks

Social and Economic Networks

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Networks of relationships help determine the careers that people choose, the jobs they obtain, the products they buy, and how they vote. The many aspects of our lives that are governed by social networks make it critical to understand how they impact behavior, which network structures are likely to emerge in a society, and why we organize ourselves as we do. In Social and Economic Networks, Matthew Jackson offers a comprehensive introduction to social and economic networks, drawing on the latest findings in economics, sociology, computer science, physics, and mathematics. He provides empirical background on networks and the regularities that they exhibit, and discusses random graph-based models and strategic models of network formation. He helps readers to understand behavior in networked societies, with a detailed analysis of learning and diffusion in networks, decision making by individuals who are influenced by their social neighbors, game theory and markets on networks, and a host of related subjects. Jackson also describes the varied statistical and modeling techniques used to analyze social networks. Each chapter includes exercises to aid students in their analysis of how networks function. This book is an indispensable resource for students and researchers in economics, mathematics, physics, sociology, and more

Product details

  • Paperback | 520 pages
  • 167.64 x 246.38 x 30.48mm | 839.14g
  • Princeton University Press
  • New Jersey, United States
  • English
  • 114 line illus. 10 tables.
  • 0691148201
  • 9780691148205
  • 156,958

Review quote

"[T]his is a valuable book that raises crucial questions for today's sociologist interested in social networks."--Paola Tubaro, Sociology "I strongly recommend this book to any scholar or student interested in networks, not only in economics but in any connected field such as sociology, physics, and applied mathematics. Matthew Jackson's guided tour of the literature on economic and social networks is superb."--Joan de Marti Beltran, Regional Science and Urban Economics "This book deserves the highest recommendations for all readers interested in networks and interdependence. It is written clearly, and could be used both as a starting textbook for a journey to the world of networks and also as an expert guide for scientists studying social and economic networks."--Karoly Takacs, Journal of Artificial Societies and Social Simulation "Jackson's review of diffusion models is excellent, as tight an overview of these models as I have seen anywhere. . . . Social and Economic Networks is a must-read for all those steeped in the traditional social network analysis paradigm. Economists will find Jackson offers them a superb and accessible introduction to network questions and models. And for others from any social science background curious about social networks, I recommend a careful read of the book."--David Krackhardt, Science Honorable Mention for the 2008 PROSE Award in Economics, Association of American Publishersshow more

Back cover copy

"The study of networks is one of the liveliest and most interesting topics in contemporary economic theory. In this timely and beautifully written book, Matthew Jackson--a leading theorist and pioneer in network theory--lucidly lays out the elements of the theory as well as some cutting-edge research."--Eric S. Maskin, Nobel Laureate in Economics "Lucid and comprehensive, Jackson's book elegantly synthesizes several important strands of network science from sociology, physics, mathematics, computer science, and economics. It will be an immensely useful reference for researchers and students alike."--Duncan Watts, Columbia University "Matt Jackson has met and exceeded the challenge of producing a landmark work in a rapidly emerging and highly interdisciplinary field. It is wonderfully written, expertly balancing motivation and examples with technical detail. It should become a treasured resource for members of several research communities, including economists, sociologists, and computer scientists."--Michael Kearns, University of Pennsylvania "Jackson does justice to the vast interdisciplinary field of complex systems by bringing together the key advances scattered in the social science, physics, mathematics, computer science, and economics literature. With its comprehensive exposition and numerous fascinating examples, this is a must-read for everybody interested in social and economic networks."--Albert-Laszlo Barabasi, University of Notre Dame "This book is an eye-opener. In addition to describing the new models of small-world and scale-free networks first developed by physical scientists, it also reveals the fascinating work done by economists on social networks. It is the best available textbook on network models, containing well-thought-out and demanding problems at the end of every chapter."--Phillip Bonacich, University of California, Los Angeles "This is an excellent, incredible, and much-needed book. Every incoming graduate student who deals with networks in economics, political science, or sociology will want it as a reference. Social and Economic Networks will become the book in formal network analysis in the social sciences. Its clarity is unsurpassed, and perhaps even unsurpassable."--Scott E. Page, author of The Difference "This is a wonderful book on social networks that will be immensely successful both as a reference on the state of the art and as a textbook for advanced courses. I believe that this book will spur renewed interest in social and economic networks, and serve as an inspiration for many researchers. Fascinating and very pleasant to read."--Francis Bloch, ecole Polytechniqueshow more

Table of contents

Preface xiPART I: BACKGROUND AND FUNDAMENTALS OF NETWORK ANALYSISChapter 1 Introduction 31.1 Why Model Networks? 31.2 A Set of Examples 41.3 Exercises 17Chapter 2: Representing and Measuring Networks 202.1 Representing Networks 202.2 Some Summary Statistics and Characteristics of Networks 302.3 Appendix: Basic Graph Theory 432.4 Appendix: Eigenvectors and Eigenvalues 492.5 Exercises 51Chapter 3: Empirical Background on Social and Economic Networks 543.1 The Prevalence of Social Networks 553.2 Observations on the Structure of Networks 56PART II: MODELS OF NETWORK FORMATIONChapter 4: Random-Graph Models of Networks 774.1 Static Random-Graph Models of Random Networks 784.2 Properties of Random Networks 864.3 An Application: Contagion and Diffusion 1054.4 Distribution of Component Sizes 1074.5 Appendix: Useful Facts, Tools, and Theorems 1104.6 Exercises 121Chapter 5: Growing Random Networks 1245.1 Uniform Randomness: An Exponential Degree Distribution 1255.2 Preferential Attachment 1305.3 Hybrid Models 1345.4 Small Worlds, Clustering, and Assortativity 1415.5 Exercises 150Chapter 6: Strategic Network Formation 1536.1 Pairwise Stability 1546.2 Efficient Networks 1576.3 Distance-Based Utility 1596.4 A Coauthor Model and Negative Externalities 1666.5 Small Worlds in an Islands-Connections Model 1706.6 A General Tension between Stability and Efficiency 1736.7 Exercises 179PART III: IMPLICATIONS OF NETWORK STRUCTUREChapter 7: Diffusion through Networks 1857.1 Background: The Bass Model 1877.2 Spread of Information and Disease 1897.3 Search and Navigation on Networks 2097.4 Exercises 221Chapter 8: Learning and Networks 2238.1 Early Theory and Opinion Leaders 2248.2 Bayesian and Observational Learning 2258.3 Imitation and Social Influence Models: The DeGroot Model 2288.4 Exercises 253Chapter 9: Decisions, Behavior, and Games on Networks 2579.1 Decisions and Social Interaction 2589.2 Graphical Games 2699.3 Semi-Anonymous Graphical Games 2739.4 Randomly Chosen Neighbors and Network Games 2799.5 Richer Action Spaces 2869.6 Dynamic Behavior and Contagion 2939.7 Multiple Equilibria and Diffusion in Network Games 2979.8 Computing Equilibria 3049.9 Appendix: A Primer on Noncooperative Game Theory 3089.10 Exercises 319Chapter 10: Networked Markets 32710.1 Social Embeddedness of Markets and Exchange 32810.2 Networks in Labor Markets 33410.3 Models of Networked Markets 35310.4 Concluding Remarks 36510.5 Exercises 366PART IV: METHODS, TOOLS, AND EMPIRICAL ANALYSESChapter 11: Game-Theoretic Modeling of Network Formation 37111.1 Defining Stability and Equilibrium 37211.2 The Existence of Stable Networks 37711.3 Directed Networks 38311.4 Stochastic Strategic Models of Network Formation 38811.5 Farsighted Network Formation 39511.6 Transfers and Network Formation 39911.7 Weighted Network Formation 40211.8 Agent-Based Modeling 40611.9 Exercises 407Chapter 12: Allocation Rules, Networks, and Cooperative Games 41112.1 Cooperative Game Theory 41212.2 Communication Games 41612.3 Networks and Allocation Rules 41912.4 Allocation Rules When Networks Are Formed 42512.5 Concluding Remarks 43012.6 Exercises 430Chapter 13: Observing and Measuring Social Interaction 43413.1 Specification and Identification 43513.2 Community Structures, Block Models, and Latent Spaces 44313.3 Exercises 457Afterword 459Bibliography 461Index 491show more

About Matthew O. Jackson

Matthew O. Jackson is the William D. Eberle Professor of Economics at Stanford more

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85 ratings
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3 15% (13)
2 1% (1)
1 1% (1)
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