000095334 001__ 95334 000095334 005__ 20210902121825.0 000095334 0247_ $$2doi$$a10.1038/s41598-020-68094-z 000095334 0248_ $$2sideral$$a119087 000095334 037__ $$aART-2020-119087 000095334 041__ $$aeng 000095334 100__ $$0(orcid)0000-0002-2789-9250$$aMaciel Cardoso, Felipe$$uUniversidad de Zaragoza 000095334 245__ $$aEffect of network topology and node centrality on trading 000095334 260__ $$c2020 000095334 5060_ $$aAccess copy available to the general public$$fUnrestricted 000095334 5203_ $$aGlobal supply networks in agriculture, manufacturing, and services are a defining feature of the modern world. The efficiency and the distribution of surpluses across different parts of these networks depend on the choices of intermediaries. This paper conducts price formation experiments with human subjects located in large complex networks to develop a better understanding of the principles governing behavior. Our first experimental finding is that prices are larger and that trade is significantly less efficient in small-world networks as compared to random networks. Our second experimental finding is that location within a network is not an important determinant of pricing. An examination of the price dynamics suggests that traders on cheapest—and hence active—paths raise prices while those off these paths lower them. We construct an agent-based model (ABM) that embodies this rule of thumb. Simulations of this ABM yield macroscopic patterns consistent with the experimental findings. Finally, we extrapolate the ABM on to significantly larger random and small-world networks and find that network topology remains a key determinant of pricing and efficiency. 000095334 536__ $$9info:eu-repo/grantAgreement/ES/DGA/E36-17R$$9info:eu-repo/grantAgreement/EC/H2020/662725/EU/Bridging the gap: from Individual Behaviour to the Socio-tEchnical MaN/IBSEN$$9This project has received funding from the European Union’s Horizon 2020 research and innovation program under grant agreement No H2020 662725-IBSEN$$9info:eu-repo/grantAgreement/ES/MCIU-FEDER/PGC2018-098186-B-I00$$9info:eu-repo/grantAgreement/ES/MINECO-FEDER/FIS2017-87519-P 000095334 540__ $$9info:eu-repo/semantics/openAccess$$aby$$uhttp://creativecommons.org/licenses/by/3.0/es/ 000095334 590__ $$a4.379$$b2020 000095334 591__ $$aMULTIDISCIPLINARY SCIENCES$$b17 / 73 = 0.233$$c2020$$dQ1$$eT1 000095334 592__ $$a1.24$$b2020 000095334 593__ $$aMultidisciplinary$$c2020$$dQ1 000095334 655_4 $$ainfo:eu-repo/semantics/article$$vinfo:eu-repo/semantics/publishedVersion 000095334 700__ $$0(orcid)0000-0002-9769-8796$$aGracia-Lázaro, Carlos$$uUniversidad de Zaragoza 000095334 700__ $$aMoisan, F. 000095334 700__ $$aGoyal, S. 000095334 700__ $$0(orcid)0000-0003-1874-2881$$aSánchez, Ángel 000095334 700__ $$0(orcid)0000-0002-0895-1893$$aMoreno, Yamir$$uUniversidad de Zaragoza 000095334 7102_ $$12004$$2405$$aUniversidad de Zaragoza$$bDpto. Física Teórica$$cÁrea Física Teórica 000095334 773__ $$g10, 1 (2020), 11113 [9 pp.]$$pSci. rep.$$tScientific Reports$$x2045-2322 000095334 8564_ $$s4267907$$uhttps://zaguan.unizar.es/record/95334/files/texto_completo.pdf$$yVersión publicada 000095334 8564_ $$s312987$$uhttps://zaguan.unizar.es/record/95334/files/texto_completo.jpg?subformat=icon$$xicon$$yVersión publicada 000095334 909CO $$ooai:zaguan.unizar.es:95334$$particulos$$pdriver 000095334 951__ $$a2021-09-02-10:11:41 000095334 980__ $$aARTICLE