Networks, markets, and inequality
| cam.orpheus.success | Thu Jan 30 12:57:17 GMT 2020 - The item has an open VoR version. | |
| dc.contributor.author | Gagnon, J | |
| dc.contributor.author | Goyal, S | |
| dc.contributor.orcid | Goyal, Sanjeev [0000-0002-9827-5998] | |
| dc.date.accessioned | 2016-08-23T13:23:54Z | |
| dc.date.available | 2016-08-23T13:23:54Z | |
| dc.date.issued | 2017 | |
| dc.description.abstract | <jats:p> The interaction between community and markets remains a central theme in the social sciences. The empirical evidence is rich: in some instances, markets strengthen social ties, while in others they undermine them. The impact of markets on inequality and welfare also varies widely. This paper develops a model where individuals in a social network choose whether to participate in their network and whether to participate in the market. We show that individual behavior is defined by the q-core of the network and the key to understanding the conflicting evidence is whether the market and the network are complements or substitutes. (JEL D63, D85, J15, L82, O15, Z13, Z31) </jats:p> | |
| dc.description.sponsorship | Julien Gagnon thanks the Gates Cambridge Trust for financial support. Sanjeev Goyal is grateful to the Keynes Fellowship and the Cambridge-INET Institute for financial support. | |
| dc.description.version | This is the final version of the article. It first appeared from the American Economic Association via https://doi.org/10.1257/aer.20150635 | |
| dc.identifier.doi | 10.17863/CAM.1616 | |
| dc.identifier.eissn | 1944-7981 | |
| dc.identifier.issn | 0002-8282 | |
| dc.identifier.uri | https://www.repository.cam.ac.uk/handle/1810/257385 | |
| dc.language | English | |
| dc.language.iso | eng | |
| dc.publisher | American Economic Association | |
| dc.publisher.url | http://dx.doi.org/10.1257/aer.20150635 | |
| dc.subject | networks | |
| dc.subject | substitutes and complements | |
| dc.subject | welfare | |
| dc.subject | inequality | |
| dc.title | Networks, markets, and inequality | |
| dc.type | Article | |
| dcterms.dateAccepted | 2016-07-12 | |
| prism.endingPage | 30 | |
| prism.publicationDate | 2017 | |
| prism.publicationName | American Economic Review | |
| prism.startingPage | 1 | |
| prism.volume | 107 | |
| rioxxterms.licenseref.startdate | 2017-01 | |
| rioxxterms.licenseref.uri | http://www.rioxx.net/licenses/all-rights-reserved | |
| rioxxterms.type | Journal Article/Review | |
| rioxxterms.version | VoR | |
| rioxxterms.versionofrecord | 10.1257/aer.20150635 |
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