• Table of Contents
    • Abstract
    • Keywords
    • Article
      • Classical foundations of social network theory
      • Key concepts in modern social network analysis
      • Where do networks come from?
      • What do networks do?
      • Social networks and economic outcomes
      • Conclusion
    • See Also
    • Bibliography
    • How to cite this article

social networks, economic relevance of

James Moody and Martina Morris
From The New Palgrave Dictionary of Economics, Second Edition, 2008
Edited by Steven N. Durlauf and Lawrence E. Blume
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Abstract

Social network analysis has a long history in sociology, but interest in this topic has broadened dramatically since 1995. This article reviews the origins and key concepts from the sociological literature on social networks, and outlines the network approach to economic behaviour (see Zuckerman, 2003 or White, 2002 for a broader vision of ‘economic networks’ not covered here due to space limitations). The central themes we trace relate to ‘social embeddedness’ and aggregation – how occupying different positions in complex networks enables and constrains action, as well as the resulting properties of global networks that arise from these actions.
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Keywords

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Article

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How to cite this article

Moody, James and Martina Morris. "social networks, economic relevance of." The New Palgrave Dictionary of Economics. Second Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2008. The New Palgrave Dictionary of Economics Online. Palgrave Macmillan. 17 April 2014 <http://www.dictionaryofeconomics.com/article?id=pde2008_S000511> doi:10.1057/9780230226203.1561

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