Theories of network exchange: Anomalies, desirable properties, and critical networks

The present study evaluates four well-known theories of exchange in networks. In previous research these theories’ predictions were compared for a small set of networks using experimental data. We compared their predictions for all 12,112 networks up to size 8. By comparing these predictions we (i) identified anomalies in theories of network exchange, (ii) investigated to what extent the theories satisfy basic principles of exchange, (iii) identified ‘critical’ networks for which predictions are very different. We conclude that exchange in networks is not yet well understood.