Chapter

Multinomial Choice with Social Interactions

William A. Brock and Steven N. Durlauf

in The Economy as an Evolving Complex System, III

Published in print October 2005 | ISBN: 9780195162592
Published online October 2011 | e-ISBN: 9780199850495 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780195162592.003.0008

Series: Santa Fe Institute Studies on the Sciences of Complexity

Multinomial Choice with Social Interactions

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This chapter shows how to develop an analysis of social interactions that builds the interdependencies that characterize complex systems into a framework consistent with individual decision making. They characterize both the theoretical implications of these interdependences and describe how to implement the model econometrically.

Keywords: social interactions; interdependencies; decision making; complex systems

Chapter.  13016 words. 

Subjects: Economic Systems

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