Networks of relationships help determine the careers that people choose, the jobs they obtain, the products they buy, and how they vote. The many aspects of our lives that are governed by social networks make it critical to understand how they impact behavior, which network structures are likely to [...]
How can economists define social preferences and interactions? Culture, familial beliefs, religion, and other sources contain the origins of social preferences. Those preferences - the desire for social status, for instance, or the disinclination to receive financial support - often accompany predic[...]