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1、JournalofEconomicDynamics&Control28(2004)1557–1575www.elsevier.com/locate/econbaseNetworkstructureandthedi'usionofknowledgeRobinCowana;∗,NicolasJonardbaMERIT,UniversityofMaastricht,P.O.Box616,Maastricht6200MD,TheNetherlandsbCNRS,CREA,EcolePolytechnique,1RueDescartes,Paris750
2、05,FranceReceived10August2001;accepted3April2003AbstractThispapermodelsknowledgedi'usionasabarterprocessinwhichagentsexchangedi'erenttypesofknowledge.Thisisintendedtocapturetheobservedpracticeofinformalknowledgetrading.Agentsarelocatedonanetworkandaredirectlyconnectedwithasm
3、allnumberofotheragents.Agentsrepeatedlymeetthosewithwhomdirectconnectionsexistandtradeifmutuallypro1tabletradesexist.Inthiswayknowledgedi'usesthroughouttheeconomy.Weexaminetherelationshipbetweennetworkarchitectureanddi'usionperformance.Weconsiderthespaceofstructuresthatfallb
4、etween,atoneextreme,anetworkinwhicheveryagentisconnectedtonnearestneighbours,andattheotherextremeanetworkwitheachagentbeingconnectedto,onaverage,nrandomlychosenagents.We1ndthattheperformanceofthesystemexhibitsclear‘smallworld’properties,inthatthesteady-statelevelofaveragekno
5、wledgeismaximalwhenthestructureisasmallworld(thatis,whenmostconnectionsarelocal,butroughly10percentofthemarelongdistance).Thevarianceofknowledgelevelsamongagentsismaximalinthesmallworldregion,whereasthecoe7cientofvariationisminimal.Weexplaintheseresultsasre8ectingthedynamics
6、ofknowledgetransmissionasa'ectedbythearchitectureofconnectionsamongagents.?2003ElsevierB.V.Allrightsreserved.JELclassi,cation:L00;O3;R1Keywords:Knowledge;Networks;Smallworlds;Di'usion;Innovationpolicy1.IntroductionOneoftheremarkablefeaturesofamarketisitsabilitytoprocessinfor
7、mation.Evenwiththemyriadfactorsthatcanin8uenceeconomicphenomena,inawell-functioning∗Correspondingauthor.Tel.:+31-433883875;fax:+31-433884905.E-mailaddress:r.cowan@merit.unimaas.nl(R.Cowan).0165-1889/$-seefrontmatter?2003ElsevierB.V.Allrightsreserved.doi:10.1016/j.jedc.2003.0
8、4.0021558R.Cowan,N.Jonard/JournalofEconomicDynamics&Control28(2004)1557–157