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Network cohesion

Published version
Peer-reviewed

Type

Article

Change log

Authors

Cavalcanti, TVV 
Giannitsarou, Chryssi  ORCID logo  https://orcid.org/0000-0002-1488-2433
Johnson, CR 

Abstract

We define a measure of network cohesion and show how it arises naturally in a broad class of dynamic models of endogenous perpetual growth with network externalities. Via a standard growth model, we show why network cohesion is crucial for conditional convergence and explain that as cohesion increases, convergence is faster. We prove properties of network cohesion and define a network aggregator that preserves network cohesion.

Description

Keywords

Network theory, Endogenous growth models, Convergence Consensus

Journal Title

Economic Theory

Conference Name

Journal ISSN

0938-2259
1432-0479

Volume Title

64

Publisher

Springer Verlag