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Using a simple model with interdependent utilities, we study how social networks influence individual voluntary contributions to the provision of a public good. Departing from the standard model of public good provision, we assume that an agent’s utility has two terms: (a) ‘ego’-utility derived from the agent’s consumption of public and private goods, and (b) a social utility which is the sum of utility spillovers from other agents with whom the agent has social relationships. We establish conditions for the existence of a unique interior Nash equilibrium and describe the equilibrium in terms of network characteristics. We show that social network always has a positive effect on the provision of the public good. We also find that, in networks with “small world”-like modular structures, ‘bridging’ ties connecting distant parts of social network play an important role inducing an agent’s contribution to public good. Assumptions and results of the model are discussed in relation to the role of social capital in community-level development projects and to the effect of innovation networks on firms’ R&D investments. 相似文献
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Social networks play an important role in mitigating informational frictions related to financial intermediation, especially bank lending. We investigate the effect of the network of financial institutions on the certification value of bank loans using data on syndicated loans to European companies. We find that the presence of more central leaders in a syndicate substantially increases the stock market's reaction to loan announcements. This certification value is reinforced when informational frictions are more important but vanishes when there are severe disruptions in the functioning of financial markets, such as during the financial crisis of 2008. 相似文献
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This paper presents a simple evolutionary model to study the diffusion patterns of product innovations for consumer goods.
Following a Veblenian theme, we interpret consumption as a social activity constrained by social norms and class structure.
Societies that allow for more behavioral variety will experience faster adoption of new consumer goods. We also find that
the speed of diffusion as well as the saturation levels reached depend greatly on the structure of a society. Combining these
two effects, we conclude that a social structure displaying behavioral variety and an even class structure fares better than
any other social set-up in terms of the speed of adoption of product innovations and product variety.
JEL Classification:
D11, O31
This paper has benefited from comments by Robin Cowan and seminar participants at the University of Economics in Vienna, the
Maastricht Economic Research Institute on Innovation and Technology (MERIT), University of Maastricht, participants of the
EMAEE 2003 Conference in Augsburg, Germany as well as the Schumpeter Conference 2004 in Milan, Italy. We also would like to
thank two anonymous referees for their constructive criticism and suggestions. The usual disclaimers apply.
Correspondence to: A. Reinstaller 相似文献
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Mukhamediyev Bulat Spankulova Lazat Kerimbayev Azamat 《International Advances in Economic Research》2019,25(4):487-488
International Advances in Economic Research - 相似文献
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