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Memorias de investigación
Communications at congresses:
A complex network approach to international commodity trade markets
Year:2011
Research Areas
  • Physics chemical and mathematical
Information
Abstract
Adam Smith is considered the father of modern economics. His research on the Wealth of Nations is the first scientific work that theorized about the complexity of economic systems and how an "invisible hand self-regulates markets and their behavior. In this way, we study the international commodity trade markets as complex networks. We analyze their topological properties, structure and temporal dynamics based on actual data. Our main premise states that a close analogy can be found between trade networks in economics and mutualistic networks in ecology. Indeed, both types of network are bipartite in nature and their constituting agents are motivated by self-interest. Thus, we apply the methodology developed for mutualistic ecosystems to trade networks. Minor gaps can be found in this methodology. We address such gaps by using well-known techniques from related scientific work, which effectively complement the premise. We confirm that mutualistic and trade networks share similar topological properties and structure. In this way, the evidence supports the fact that the premise is a realistic assumption.
International
Si
Congress
Complex Networks: Structure, Applications and Related Topics (Net-Works 2011)
960
Place
El Escorial (España)
Reviewers
Si
ISBN/ISSN
2174-6036
Start Date
26/10/2011
End Date
28/10/2011
From page
191
To page
201
Proceedings of the International Conference "Complex Networks: Structure, Applications and Related Topics (Net-Works 2011)"
Participants
  • Autor: Maximiliano Alfredo Fernandez . (UPM)
  • Autor: Javier Ricardo Galeano Prieto (UPM)
  • Autor: César Hidalgo (Massachussetts Institute of Technology)
Research Group, Departaments and Institutes related
  • Creador: Grupo de Investigación: Grupo de Sistemas Complejos
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