We model networks of relational (or implicit) contracts, exploring how sanctioning power and equilibrium conditions change under different network configurations and information transmission technologies. In our model relations are the links, and the value of the network lies in its ability to...

As a complement to the literature on learning in firms, we investigate learning in markets, a nascent area of study that focuses on how learning occurs between, rather than within, firms. The core idea behind our framework is that networks shape knowledge transfer and learning processes by...

The objective of this article is to show how a formal approach to social networks can be applied to better understand informal trade in developing countries, with a particular focus on Africa. The paper starts by discussing some of the fundamental concepts developed by social network analysis....