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on Information and Communication Technologies |
| By: | Ceyhun Elgin |
| Date: | 2012–09 |
| URL: | http://d.repec.org/n?u=RePEc:bou:wpaper:2012/09&r=ict |
| By: | Florian Ploeckl |
| Abstract: | Information technology, like the telephone, influences market access; this paper answers the question about a reverse effect, does market access affect information technology, in particular its adoption? Using the introduction of the telephone in Bavaria, I demonstrate with a rank, order and stock effects diffusion model how market access affects the diffusion of local telephone exchanges over towns as well as the rate of adoption of telelphone lines within towns. The results of a duration analysis show that market access speeds up the diffusion, a spatial correlation specification demonstrates that this is not just a geographic effect. The rate of adoption within towns is also affected by the adoption of lines in other towns, the results indicate that about 4% of all lines are due to the ability to call outside your local exchange network. Market access is therefore shown to impact the adoption of technology. |
| Keywords: | Information technology adoption, Market access, Spatial diffusion, Bavaria, Telephone |
| JEL: | L92 N73 N93 O33 |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:oxf:wpaper:620&r=ict |
| By: | Jackson, Matthew O.; Zenou, Yves |
| Abstract: | We provide an overview and synthesis of the literatures analyzing games where players are connected via a network structure. We study, in particular, the impact of the structure of the network on individuals’ behaviors. We focus on the game theoretic modeling, but also include some discussion of analyses of peer effects, as well as applications to diffusion, employment, crime, industrial organization, and education. |
| Keywords: | games on networks; games with incomplete information; graphical games; network games; peer effects.; social networks |
| JEL: | A14 C72 D85 |
| Date: | 2012–09 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:9127&r=ict |
| By: | Boris Podobnik; Davor Horvatic; Mark Dickison; H. Eugene Stanley |
| Abstract: | We generalize the scale-free network model of Barab\`asi and Albert [Science 286, 509 (1999)] by proposing a class of stochastic models for scale-free interdependent networks in which interdependent nodes are not randomly connected but rather are connected via preferential attachment (PA). Each network grows through the continuous addition of new nodes, and new nodes in each network attach preferentially and simultaneously to (a) well-connected nodes within the same network and (b) well-connected nodes in other networks. We present analytic solutions for the power-law exponents as functions of the number of links both between networks and within networks. We show that a cross-clustering coefficient vs. size of network $N$ follows a power law. We illustrate the models using selected examples from the Internet and finance. |
| Date: | 2012–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1209.2817&r=ict |
| By: | Bulent Koksal |
| Abstract: | We analyze different dimensions of liquidity on the Istanbul Stock Exchange (ISE) by using detailed order and transaction data for all ISE stocks. We estimate the limit order book on the ISE at each point in time and examine the intraday behavior of spreads, depths, returns and volume. We find that the spreads follow an L-shaped pattern whereas returns, number of trades and volume follow a U-shaped pattern. Means of these liquidity variables are significantly different for different time intervals in a given day. Another result is that traders use spreads and depths simultaneously to implement their strategies, i.e., wide spreads are accompanied by low depths and vice versa. We also find that spreads are higher on average for more risky stocks and for more active stocks. Information flow as measured by trades of unusual size causes the spreads to increase. Finally there are day-of-week effects on spreads, returns and share volume. |
| Keywords: | Intraday Patterns, Spreads, Returns, Depths, Transaction Volume, Market Liquidity, Limit Order Market, Istanbul Stock Exchange |
| JEL: | G15 G20 |
| Date: | 2012 |
| URL: | http://d.repec.org/n?u=RePEc:tcb:wpaper:1226&r=ict |