We analyse an economy where heterogeneous agents are partitioned in communities and individual human capital accumulation, the source of growth, is the joint result of private investment in education, public expenditure and externalities within a community. We characterize the long-run growth...

Traditionally, econometric research on social interaction effects has used fairly large social groups (schools, Census tracts, etc.). However, new data which describes the behavior of much smaller peer groups is becoming available. This paper analyzes the behavior of "small neighborhoods" in the...

This paper derives a complete characterization for the equilibrium properties of a binary choice interaction model with a finite number of agents - in particular the correspondence between the interaction strength, the number of agents, and the set of equilibria. For the class of games...

Down’s spatial theory of elections (1957) has occupied a prominent theoretical status within political science. Studies use a notion of ideological distance to develop explanations for observable electoral trends. In elections, voters by observing party ideologies and using the...

The LLS stock market model (for a review see the book in Academic Press 2000: "Microscopic Simulation of Financial Markets; From Investor Behavior to Market Phenomena" by Levy, Levy and Solomon, ISBN: 0124458904) is a model of heterogeneous quasi-rational investors operating in a complex...

We study by theoretical analysis and by direct numerical simulation the dynamics of a wide class of asynchronous stochastic systems composed of many autocatalytic degrees of freedom. We describe the generic emergence of truncated power laws in the size distribution of their individual elements....