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Complex networks and economics

Author

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  • Souma, Wataru
  • Fujiwara, Yoshi
  • Aoyama, Hideaki

Abstract

As the first step toward a study of complex networks in economics, we consider business networks categorized into bipartite networks. Through empirical study we show the possibility that business networks will fall into the scale-free category. To have an idea about the clustering coefficient and the averaged path length for bipartite networks, we perform a one-mode reduction. We calculate the quantities for networks constructed by banks and companies before/after a merger among banks, and quantitatively show that the merger among banks increases the cliquishness of companies and decreases the typical separation between two companies.

Suggested Citation

  • Souma, Wataru & Fujiwara, Yoshi & Aoyama, Hideaki, 2003. "Complex networks and economics," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 324(1), pages 396-401.
    • Handle: RePEc:eee:phsmap:v:324:y:2003:i:1:p:396-401
    DOI: 10.1016/S0378-4371(02)01858-7
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    Cited by:

    1. Hernández, Juan M. & González-Martel, Christian, 2017. "An evolving model for the lodging-service network in a tourism destination," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 482(C), pages 296-307.
    2. Marco Pelliccia, 2013. "Ambiguous Networks," Birkbeck Working Papers in Economics and Finance 1303, Birkbeck, Department of Economics, Mathematics & Statistics.
    3. Hashimzade, Nigar & Myles, Gareth D. & Rablen, Matthew D., 2016. "Predictive analytics and the targeting of audits," Journal of Economic Behavior & Organization, Elsevier, vol. 124(C), pages 130-145.
    4. Yichen Zhou & Honggang Li, 2019. "Asset diversification and systemic risk in the financial system," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 14(2), pages 247-272, June.
    5. Mizuno, Takayuki & Ohnishi, Takaaki & Watanabe, Tsutomu, 2016. "The structure of global inter-firm networks," HIT-REFINED Working Paper Series 37, Institute of Economic Research, Hitotsubashi University.
    6. Teteryatnikova, Mariya, 2014. "Systemic risk in banking networks: Advantages of “tiered” banking systems," Journal of Economic Dynamics and Control, Elsevier, vol. 47(C), pages 186-210.
    7. Miśkiewicz, Janusz, 2013. "Power law classification scheme of time series correlations. On the example of G20 group," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 392(9), pages 2150-2162.
    8. Francesco Parola & Giovanni Satta & Simone Caschili, 2014. "Unveiling co-operative networks and 'hidden families' in the container port industry," Maritime Policy & Management, Taylor & Francis Journals, vol. 41(4), pages 384-404, July.
    9. He, Fang & Chen, Xi, 2016. "Credit networks and systemic risk of Chinese local financing platforms: Too central or too big to fail?," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 461(C), pages 158-170.
    10. An, Feng & Gao, Xiangyun & Guan, Jianhe & Huang, Shupei & Liu, Qian, 2017. "Modeling the interdependent network based on two-mode networks," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 483(C), pages 57-67.
    11. Cajueiro, Daniel O. & Tabak, Benjamin M., 2008. "The role of banks in the Brazilian interbank market: Does bank type matter?," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 387(27), pages 6825-6836.
    12. Wu, Yujia & Lan, Wei & Fan, Xinyan & Fang, Kuangnan, 2024. "Bipartite network influence analysis of a two-mode network," Journal of Econometrics, Elsevier, vol. 239(2).
    13. Gräbner, Claudius & Heinrich, Torsten & Kudic, Muhamed, 2016. "Structuration processes in complex dynamic systems - an overview and reassessment," MPRA Paper 69095, University Library of Munich, Germany.
    14. G. De Masi & M. Gallegati, 2012. "Bank–firms topology in Italy," Empirical Economics, Springer, vol. 43(2), pages 851-866, October.
    15. Frank Emmert-Streib & Aliyu Musa & Kestutis Baltakys & Juho Kanniainen & Shailesh Tripathi & Olli Yli-Harja & Herbert Jodlbauer & Matthias Dehmer, 2017. "Computational Analysis of the structural properties of Economic and Financial Networks," Papers 1710.04455, arXiv.org.
    16. He, Jianmin & Sui, Xin & Li, Shouwei, 2016. "An endogenous model of the credit network," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 441(C), pages 1-14.
    17. Yao, Dongmin & Sun, Rong & Gao, Qiunan, 2022. "The network structure of the China bond market: Characteristics and explanations from trading factors," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 598(C).
    18. Xu, Tao & He, Jianmin & Li, Shouwei, 2016. "A dynamic network model for interbank market," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 463(C), pages 131-138.
    19. Sui, Xin & Li, Liang & Chen, Xiaohui, 2020. "Risk contagion caused by interactions between credit and guarantee networks," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 539(C).
    20. Peng-Xiang Li & Meng-Wu Zhang & You-Min Xi & Wen-Tian Cui, 2009. "Why organizational networks in reality do not show scale-free distributions," Computational and Mathematical Organization Theory, Springer, vol. 15(3), pages 169-190, September.
    21. An, Feng & Gao, Xiangyun & Guan, Jianhe & Li, Huajiao & Liu, Qian, 2016. "An evolution analysis of executive-based listed company relationships using complex networks," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 447(C), pages 276-285.

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