We define a general class of network formation models, Statistical Exponential Random Graph Models (SERGMs), that nest …' (including ERGMs) parameters estimated from the observation of a single network are consistent (i.e., become accurate as the … exponentially slow mixing times for many specifications, we show that by reformulating network formation as a distribution over the …

We develop a theoretical model of security investments in a network of interconnected agents. Network connections … strategic substitutes. In a general (non-symmetric) network, this implies that underinvestment by some agents will encourage … symmetric or locally tree-like. We also characterize the impact of network structure on equilibrium and optimal investments …

We develop and analyze a tractable empirical model for strategic network formation that can be estimated with data from … a single network at a single point in time. We model the network formation as a sequential process where in each period …, the characteristics of the potential partner, and on features of the current state of the network, such as whether the two …

In this note, we consider a broad class of network models where a large number of heterogeneous agents simultaneously …

This paper presents and structurally estimates a model of endogenous network formation and legislative activity of … of Congress as exogenously given and instead embed it in a model of endogenous network formation useful for developing …

Should China build mega-cities or a network of linked middle-sized metropolises? Can Europe's mid-sized cities compete …

setting with data from experiments involving members of a single connected network. The class includes null hypotheses that … have no effect. We also consider hypotheses concerning the validity of sparsification of a network (for example based on …

network. The two measures are highly correlated, and show a wide range of networks available to consumers. We then estimate … consumer willingness-to-pay for network breadth, which varies by age. 60-year-olds value the broadest network approximately … $1200-1400/year more than the narrowest network, while 30-year-olds value it about half as much. Consumers place additional …

This paper studies costly network formation in the context of risk sharing. Neighboring agents negotiate agreements as … are minimized by increasing social inequality, which results in financial inequality and increasing the centrality of the …