Network cohesion

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

This is the final version of the article. It first appeared from Springer via http://dx.doi.org/10.1007/s00199-016-0992-1

Keywords

network theory, endogenous growth models, convergence, consensus

Journal Title

Economic Theory

Publisher

Springer

Publisher DOI

https://doi.org/10.1007/s00199-016-0992-1

Rights and licensing

Except where otherwised noted, this item's license is described as Attribution 4.0 International

Collections

Scholarly Works - Economics
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