The economics of networks is a thriving new field. Rachel Kranton's papers develop formal models of networks in different economic settings. She studies the costs and benefits of informal exchange, which is economic activity mediated by social relationships rather than markets. Her work draws on empirical findings and integrates new mathematical tools to uncover how network structures influence economic outcomes. The economics of networks is part of a larger emergent field of network science, which spans may disciplines including computer science and information science.
Rachel Kranton, along with collaborators Yann Bramoullé and Deborah Minehart, has studied buyer-seller networks, risk-sharing networks, and network public goods. Her current work focuses on strategic interaction and innovation. Main findings include:
"Strategic Interaction and Networks," Yann Bramoullé, Rachel Kranton, and Martin D’Amours, May 2013. NEW. With Applications. Forthcoming American Economic Review.
"Striving for Status," Nicole Immorlica, Rachel Kranton, and Greg Stoddard, April 2012.
"Strategic Interaction and Networks," Yann Bramoullé, Rachel Kranton, and Martin D’Amours, working paper containing technical details, January 2011.
"Risk Sharing Across Communities," with Yann Bramoullé, American Economic Review Papers and Proceedings, 97 (2), May 2007, pp. 70-74.
"Public Goods in Networks," with Yann Bramoullé, Journal of Economic Theory, 135(1), July 2007, pp. 478-494.
"Risk Sharing Networks," with Yann Bramoullé, Journal of Economic Behavior and Organization, 64 (3-4), November-December 2007, pp. 275-294.
"The Formation of Industrial Supply Networks," with Deborah Minehart, in James Rauch (ed.), The Formation and Decay of Networks, (New York: Russell Sage Foundation Press, 2007).
"A Theory of Buyer-Seller Networks," with Deborah Minehart, American Economic Review, 91 (3), June 2001, pp. 485-508.
"Competition for Goods in Buyer-Seller Networks," with Deborah Minehart, Review of Economic Design, 5 (3), September 2000, pp. 301-331.
"Networks versus Vertical Integration," with Deborah Minehart, RAND Journal of Economics, 31 (3), Autumn 2000, pp. 570-601.
"Reciprocal Exchange: A Self-Sustaining System," American Economic Review, 86 (4), September 1996, pp. 830-851.
"The Formation of Cooperative Relationships," Journal of Law, Economics and Organization, 12 (1), April 1996, pp. 214-233.