Cavalcanti, Tiago V. V.
Johnson, Charles R.
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Cavalcanti, T. V. V., Giannitsarou, C., & Johnson, C. R. (2016). Network cohesion. Economic Theory https://doi.org/10.1007/s00199-016-0992-1
This is the final version of the article. It first appeared from Springer via http://dx.doi.org/10.1007/s00199-016-0992-1
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.
network theory, endogenous growth models, convergence, consensus
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External DOI: https://doi.org/10.1007/s00199-016-0992-1
This record's URL: https://www.repository.cam.ac.uk/handle/1810/256961
Attribution 4.0 International
Licence URL: http://creativecommons.org/licenses/by/4.0/
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