This paper studies the importance of social interactions for the adoption of financial products. We exploit a unique dataset of friendships among United States students and a novel estimation strategy that accounts for possibly endogenous network formation. We find that not all social contacts...

We consider a production function model that transforms worker inputs into outputs through peer effect networks. The distinguishing features of this production model are that the network is formal and observable through worker scheduling, and selection into the network is done by a manager. We...

This paper studies the identification and estimation of treatment response with heterogeneous spillovers in a network model. We generalize the standard linear-in-means model to allow for multiple groups with between and within-group interactions. We provide a set of identification conditions of...

This paper proposes a model of network interactions in the interbank market. Our innovation is to model systemic risk in the interbank network as the propagation of incentives or strategic behavior rather than the propagation of losses after default. Transmission in our model is not based on...

We use a new dataset and a novel identification strategy to analyze the effects on labor market outcomes of residential segregation of migrants in 8 Italian cities. Our data are representative of the population of both legal and illegal migrants, allow us to measure segregation at the very local...

Network spillovers explain as much as 90% of the individual variation in returns in a fully electronic market. We study two fully electronic, highly liquid markets, the Dow an S&P 500 e-mini futures markets. Within these markets, we use a unique dataset of realized trades that includes the...