Research Papers in Economics, Department of Economics, Stockholm University
Local and Consistent Centrality Measures in Networks
() and Vianney Dequiedt
Abstract: The centrality of an agent in a network has been shown to
be crucial in explaining different behaviors and outcomes. In this paper,
we propose an axiomatic approach to characterize a class of centrality
measures for which the centrality of an agent is recursively related to the
centralities of the agents she is connected to. This includes the
Katz-Bonacich and the eigenvector centrality. The core of our argument
hinges on the power of the consistency axiom, which relates the properties
of the measure for a given network to its properties for a reduced problem.
In our case, the reduced problem only keeps track of local and parsimonious
information. Our axiomatic characterization highlights the conceptual
similarities among this class of measures.
Keywords: Consistency; centrality measures; networks; axiomatic approach; (follow links to similar papers)
JEL-Codes: C70; D85; (follow links to similar papers)
25 pages, May 21, 2014
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