An Equilibrium-Correction Model for Dynamic Network Data
We propose a two-stage MRQAP to analyze dynamic network data, within the framework of an equilibrium-correction (EC) model. Extensive simulation results indicate practical relevance of our method and its improvement over standard OLS. An empirical illustration additionally shows that the EC model yields interpretable parameters, in contrast to an unrestricted dynamic model.
|Keywords||cognitive social structures, consistent accuracy, network centrality, structural autocorrelation, two-stage equilibrium model|
|JEL||Statistical Decision Theory; Operations Research (jel C44), Econometric Modeling: Other (jel C59), Business Administration and Business Economics; Marketing; Accounting (jel M), Marketing (jel M31)|
|Publisher||Erasmus Research Institute of Management|
|Series||ERIM Report Series Research in Management|
|Rights||Copyright 2001, D. Dekker, P.H.B.F. Franses, D. Krackhardt, This report in the ERIM Report Series Research in Management is intended as a means to communicate the results of recent research to academic colleagues and other interested parties. All reports are considered as preliminary and subject to possibly major revisions. This applies equally to opinions expressed, theories developed, and data used. Therefore, comments and suggestions are welcome and should be directed to the authors.|
Dekker, D.J, Franses, Ph.H.B.F, & Krackhardt, D. (2001). An Equilibrium-Correction Model for Dynamic Network Data (No. ERS-2001-39-MKT). ERIM Report Series Research in Management. Erasmus Research Institute of Management. Retrieved from http://hdl.handle.net/1765/100