We study the cohesion within and the coalitions between political groups in the Eighth European Parliament (2014–2019) by analyzing two entirely different aspects of the behavior of the Members of the European Parliament (MEPs) in the policy-making processes. On one hand, we analyze their co-voting patterns and, on the other, their retweeting behavior. We make use of two diverse datasets in the analysis. The first one is the roll-call vote dataset, where cohesion is regarded as the tendency to co-vote within a group, and a coalition is formed when the members of several groups exhibit a high degree of co-voting agreement on a subject. The second dataset comes from Twitter; it captures the retweeting (i.e., endorsing) behavior of the MEPs and implies cohesion (retweets within the same group) and coalitions (retweets between groups) from a completely different perspective. We employ two different methodologies to analyze the cohesion and coalitions. The first one is based on Krippendorff’s Alpha reliability, used to measure the agreement between raters in data-analysis scenarios, and the second one is based on Exponential Random Graph Models, often used in social-network analysis. We give general insights into the cohesion of political groups in the European Parliament, explore whether coalitions are formed in the same way for different policy areas, and examine to what degree the retweeting behavior of MEPs corresponds to their co-voting patterns. A novel and interesting aspect of our work is the relationship between the co-voting and retweeting patterns.
This paper presents an analysis of the European Emission Trading System as a transaction network. It is shown that, given the lack of well-identified trading institutions, industrial actors had to resort to local connections and financial intermediaries to participate in the market. This gave rise to a hierarchical structure in the transaction network. It is then shown that the asymmetries in the network induced market inefficiencies (e.g., increased bid-ask spread) and informational asymmetries, that have been exploited by central agents at the expense of less central ones. Albeit the efficiency of the market has improved from the beginning of Phase II, the asymmetry persists, imposing unnecessary additional costs on agents and reducing the effectiveness of the market as a mitigation instrument.
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