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Networks, Markets and Organizations

Objective

The complex set of relationships among economic agents has profound effects on individuals’ behaviour and economic outcomes. This premise, which finds strong empirical support, is at the basis of the recent development of the economic theory of networks. Research on networks in the last 15 years has set up a common tool to model and study complex relationships within the economic paradigm. This project will advance the state of the art by 1) furthering the development of network theory in economics, and 2) developing new applied models of networks in economics.

The project is organised into three, inter-related sub-projects. In sub-project 1, networks will be used to represent different markets architectures. The objectives are to explain how trading mechanisms and the architecture of the network jointly shape the properties of the market equilibrium, and to provide normative insights on how to organize and regulate markets where trading networks are in place. In sub-project 2, networks will be used to model organizations. The objectives are to improve our understanding of the optimal design of an organization, and to provide a rationale for the current empirical organizational trends from hierarchical to more decentralised organizations. In sub-project 3, networks will be used to model communication. The objectives are to improve our understanding of information aggregation in multi-player environments, and to apply these insights to understand the effect of strategic communication on political games.
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Principal Investigator

Andrea Galeotti (Prof.)

Host institution

EUROPEAN UNIVERSITY INSTITUTE

Address

Via Dei Roccettini 9
50014 Fiesole

Italy

Activity type

Higher or Secondary Education Establishments

EU Contribution

€ 138 454,77

Principal Investigator

Andrea Galeotti (Prof.)

Administrative Contact

Serena Scarselli (Mrs.)

Beneficiaries (2)

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EUROPEAN UNIVERSITY INSTITUTE

Italy

EU Contribution

€ 138 454,77

UNIVERSITY OF ESSEX

United Kingdom

EU Contribution

€ 805 805,03

Project information

Grant agreement ID: 283454

Status

Closed project

  • Start date

    1 October 2011

  • End date

    30 September 2016

Funded under:

FP7-IDEAS-ERC

  • Overall budget:

    € 944 259,80

  • EU contribution

    € 944 259,80

Hosted by:

EUROPEAN UNIVERSITY INSTITUTE

Italy