A study of how the Watts-Strogatz model relates to an economic system's utility

DOI10.1155/2014/693743MaRDI QIDQ1718952zbMATH OpenOpenAlexWikidataFDO

Authors Lunhan Luo, Jian'an Fang

Publication date 8 February 2019

Published in Mathematical Problems in Engineering (Search for Journal in Brave)

Copyright license Creative Commons Attribution 3.0 Unported

Full work available at URL https://doi.org/10.1155/2014/693743

Mathematics Subject Classification ID

Small world graphs, complex networks (graph-theoretic aspects) (05C82) Social networks; opinion dynamics (91D30)

Review text

Summary: Watts-Strogatz model is a main mechanism to construct the small-world networks. It is widely used in the simulations of small-world featured systems including economic system. Formally, the model contains a parameters set including three variables representing group size, number of neighbors, and rewiring probability. This paper discusses how the parameters set relates to the economic system performance which is utility growth rate. In conclusion, it is found that, regardless of the group size and rewiring probability, 2 to 18 neighbors can help the economic system reach the highest utility growth rate. Furthermore, given the range of neighbors and group size of a Watts-Strogatz model based system, the range of its edges can be calculated too. By examining the containment relationship between that range and the edge number of an actual equal-size economic system, we could know whether the system structure has redundant edges or can achieve the highest utility growth ratio.

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Cites work

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Cited in

(2)

• A discussion of the favorable factors for the economic system's utility growth rate
• Memristive field effect in a single and multilayer neural network with different connection topologies

Describes a project that uses

Uses Software

• NetworkX
• Python

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