Research Papers

We critically examined Thomas Piketty’s book “Capital in the Twenty-First Century” and its arguments about rising wealth inequality.

We wanted to provide an alternative perspective on wealth inequality and assess the validity of Piketty’s claims and policy prescriptions.

We offer a valuable contribution to the ongoing debate about wealth inequality and challenges some of Piketty’s central arguments.

We introduced and analyzed linear social interactions models, which capture how individual decisions are influenced by the behavior of others in their social networks.

Our goal was to understand the dynamics of social interactions and their impact on economic phenomena like cultural diffusion and collective behavior.

We provide a powerful tool for analyzing social interactions and their consequences for various economic and social issues.

We provide a systematic analysis of identification in linear social interactions models. We develop an incomplete information game that describes individual choices in the presence of social interactions.

The theoretical models used to study social interactions are distinct from the econometric environments in which identification is studied, while empirical work generally does not systematically exploit the implications of theory and econometrics for formulating data analyses. This paper aims to facilitate the integration of the theoretical, econometric, and empirical sides of the social interactions literature.

While the proposition that individuals are subject to social influence states the obvious, the study of social influences on individual behavior in economics is a relatively recent phenomenon. In the last two decades, however, a rich theoretical, econometric, and empirical literature in social economics, has emerged.

We critically reviewed the identification strategies of the social determinants of individual behaviors and interactions.

While a rich literature on the identification strategies for uncovering empirical evidence of social interactions exists, a more mature system of identification strategies is needed to identify the conditions under which social interactions occur.

This overview of the existing identification strategies of social interactions clarifies the directions for future research that improves the empirical modeling of social interactions.

We describe the relationship between two different binary social interaction models–the mean-field model of Brock and Durlauf (1995) and the strategy adjustment model of Blume (1994).

We want to understand the behavior of these models when there is a significant random component to choice.

We expect that our results can be extended to some of the literature on search and sorting which proceeds in this manner, and we believe this to be an important area for future research.