Chapter

Dynamic Properties of Local Interaction Models

Timothy G. Conley and Giorgio Topa

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/9780195162592.003.0012

Series: Santa Fe Institute Studies on the Sciences of Complexity

Dynamic Properties of Local Interaction Models

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The chapter analyses the underlying principles of social interactions. The chapter develops a model in which individual employment probabilities are determined by the employment status of an individual's neighbors. Such a dependence arises naturally when information about jobs diffuses locally. It demonstrates that this framework can capture important aspects of observed spatial interdependences across Chicago neighborhoods.

Keywords: social interactions; employment probabilities; employment status; spatial interdependences; Chicago

Chapter.  9059 words.  Illustrated.

Subjects: Economic Systems

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