A Study of How the Watts-Strogatz Model Relates to an Economic System’s Utility
Joint Authors
Source
Mathematical Problems in Engineering
Issue
Vol. 2014, Issue 2014 (31 Dec. 2014), pp.1-7, 7 p.
Publisher
Hindawi Publishing Corporation
Publication Date
2014-06-01
Country of Publication
Egypt
No. of Pages
7
Main Subjects
Abstract EN
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.
American Psychological Association (APA)
Luo, Lunhan& Fang, Jianan. 2014. A Study of How the Watts-Strogatz Model Relates to an Economic System’s Utility. Mathematical Problems in Engineering،Vol. 2014, no. 2014, pp.1-7.
https://search.emarefa.net/detail/BIM-491120
Modern Language Association (MLA)
Luo, Lunhan& Fang, Jianan. A Study of How the Watts-Strogatz Model Relates to an Economic System’s Utility. Mathematical Problems in Engineering No. 2014 (2014), pp.1-7.
https://search.emarefa.net/detail/BIM-491120
American Medical Association (AMA)
Luo, Lunhan& Fang, Jianan. A Study of How the Watts-Strogatz Model Relates to an Economic System’s Utility. Mathematical Problems in Engineering. 2014. Vol. 2014, no. 2014, pp.1-7.
https://search.emarefa.net/detail/BIM-491120
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references
Record ID
BIM-491120