101551 Lecture Notes - Lecture 14: Ronald Stuart Burt, Stanley Milgram, Structural Holes
23 Jan 2020
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Document Summary
Bridge: an individual whose weak ties fill a structural hole, providing the only link between two individuals or clusters. It also includes the shortest route when a longer one is unfeasible due to a high risk of message distortion or delivery failure. Centrality: centrality refers to a group of metrics that aim to quantify the "importance" or "influence" (in a variety of senses) of a particular node (or group) within a network. Examples of common methods of measuring "centrality" include betweenness centrality, closeness centrality, eigenvector centrality, alpha centrality, and degree centrality. Density: the proportion of direct ties in a network relative to the total number possible. Distance: the minimum number of ties required to connect two particular actors, as popularized by stanley milgram "s small world experiment and the idea of "six degrees of separation". Structural holes: the absence of ties between two parts of a network. Finding and exploiting a structural hole can give an entrepreneur a competitive advantage.
