Social Network Influence and Personal Financial Status
ORAL
Abstract
Networks of social ties emerging from individual economic needs display a highly structured architecture. In response to socio-economic demands, people reshape their circle of contacts for maximizing their social status, and ipso facto, the pattern of their interconnections is strongly correlates with their personal financial situation. In this work we transform this qualitative and verbal statement into an operative definition, which allows us to quantify the economic wellness of individuals trough a measure of their collective influence. We consider the network of mobile phone calls made by the Mexican population during three months, in order to study the correlation of person's economic situation with her network location. Notably, we find that rich people tend to be also the most influential nodes, i.e., they self-organize to optimally position themselves in the network. This finding may be also raised at the level of a principle, a fact that would explain the emergence of the phenomenon of collective influence itself as the result of the local optimization of socio-economic interactions. Our method represents a powerful and efficient indicator of socio-economic robustness, which may be applied to maximize the effect of large scale economic intervention and stimulus policies
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