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In this paper we test the celebrated `Strength of weak ties' theory of Granovetter (1973). We test two hypotheses on … the network structure in a data set of collaborating economists. While we find support for the hypothesis of transitivity …
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interdependence from joint extreme movements based on bivariate extreme value theory and classification analysis. Furthermore, we … propose a new ranking strategy regarding the influence of institutions based on the network effects and quantile regression …
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