Forschungs- & Entwicklungsinformationsdienst der Gemeinschaft - CORDIS

Socio-economic networks

This work package has achieved several scientific results in the understanding of socio-economic networks, from a statistical physics perspective. These results stem from basic research and the work package was not expected to produce results immediately applicable to business or policy making. However, the results suggest several ideas promptly applicable in further investigations in economics, management and policy making. Indeed, these results have inspired already several collaboration projects with economists and two consulting projects for the French government.

We have achieved novel understanding in the following topics:
1) Decision making process in the board of an organization: role of well connected minorities and lobbies
2) Decision making across organizations sharing some of their members: characterizing regimes of spreading of decisions, practices and visions through the network of interlocking relationships.
3) Structure of the ownership networks in stock markets: ownership networks are scale free but they can very well differ concerning the topological organization in several groups of interest or in one unique cluster
4) Propagation of failures in production networks: productions networks can exhibit spontaneous macroscopic fluctuations both in space and time
5) Community detection in the www

Details are provided in the descriptions of the deliverables.
Two consulting projects with the French Agency of Foreign Investments were based on results on topic 1, 2, 3
Collaborations with Prof. Gallegati (Univ. Politecnica delle Marche), Prof. Delli Gatti (Univ. Cattolica of Milan) and Prof. Stiglitz (Columbia Univ.) were also a consequence of results on topic 1, 2, 3. This collaboration contributes to our findings on topic 4 and has resulted now in an on going project with these economists.

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