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SUMMARY:A Weak Law for Moments of Pairwise-Stable Networks - Michael Leung
  (Massachusetts Institute of Technology)
DTSTART:20160712T140000Z
DTEND:20160712T143000Z
UID:TALK66718@talks.cam.ac.uk
CONTACT:INI IT
DESCRIPTION:We develop asymptotic theory for strategic network-formation m
 odels under the  assumption that the econometrician observes a single larg
 e pairwise-stable  network. Drawing on techniques from the literature on r
 andom graphs\, we derive  primitive restrictions on the model that establi
 sh a weak law of large numbers  for a useful class of network moments. Und
 er these restrictions\, we show that  the model generates realistic networ
 ks that are sparse and may contain "giant"  connected subnetworks\, two we
 ll-known properties of real-world social networks.  The restrictions also 
 conveniently suggest a new method to simulate  counterfactual networks tha
 t avoids a well-known curse of dimensionality.  Additionally\, we characte
 rize the identified set of structural parameters based  on a tractable cla
 ss of dyad-level network moments and construct consistent set  estimators.
  <br><br>Related Links <ul> <li><a target="_blank" rel="nofollow">http://w
 eb.mit.edu/mpleung/www</a>  - home page&nbsp\;</li></ul>
LOCATION:Seminar Room 1\, Newton Institute
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