Will social networks become less important

ABSTRACT

This letter finds that the social networks are more important for the high-income class, and less important for the low-income class on income increases. Thus, research on the economic influence of social networks should notice the endogeneity of the social network functions of different classes.

KEYWORDS:

• Social network
• high (low)-income class
• function endogeneity
• formal institutions

Disclosure statement

No potential conflict of interest was reported by the authors.

Additional information

Funding

This research is fully funded by Ministry of Education of People's Republic of China (Key Research Base Project of Ministry of Education, 15JJDZONGHE032); Beijing Planning Office of Philosophy and Social Science (Beijing Base Project for Social Science Research, 17JDYJA023); and the Government of Guangdong Province of People’s Republic of China [Fund for High Level Universities of Guangdong Province/205020].The authors are responsible for the consequences of this article.