Influence measures in subnetworks using vertex centrality

Abstract

This work deals with the issue of assessing the influence of a node in the entire network and in the subnetwork to which it belongs as well, adapting the classical idea of vertex centrality. We provide a general definition of relative vertex centrality measure with respect to the classical one, referred to the whole network. Specifically, we give a decomposition of the relative centrality measure by including also the relative influence of the single node with respect to a given subgraph containing it. The proposed measure of relative centrality is tested in the empirical networks generated by collecting assets of the $S\&P$ 100, focusing on two specific centrality indices: betweenness and eigenvector centrality. The analysis is performed in a time perspective, capturing the assets influence, with respect to the characteristics of the analysed measures, in both the entire network and the specific sectors to which the assets belong.