This paper studies how the strength of social ties is affected by the geographical location of other individuals and their social capital. We characterize the equilibrium in terms of both social interactions and social capital. We show that lower travel costs increase not only the interaction...

This paper studies how the strength of social ties are affected by the geographical location of other individuals and their social capital. We characterize the equilibrium in terms of both social interactions and social capital. We show that lower travel costs increase not only the interaction...

Using data from one of Australia's largest thoroughbred auction houses, we investigate the price determinants of thoroughbred yearlings sold at auction. We include novel key variables to construct various hedonic pricing models, and test whether the models forecast sufficiently well...

The economic approach to determine optimal legal policies involves maximizing a social welfare function. We propose an alternative: a consent-approach that seeks to promote consensual interactions and deter non-consensual interactions. The consent-approach does not rest upon inter-personal...

This paper studies what can be learned from pairwise stable networks. I specify the marginal utility of a pair forming a link as a function of individual-level unobserved heterogeneity as well as pair level observed characteristics. I derive a tetrad-level utility inequality from pairwise...