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Step 2 in your description of their greedy algorithm is wrong. Please review the paper again. Choosing nodes of highest degree is only a heuristic they use for comparing against their greedy algorithm.
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In this paper by Kempe-Kleinberg-Tardos, the Authors propose a greedy algorithms based on submodular functions to determine the $k$ most influential nodes in a graph, with applications to social networks.

Basically the algorithm goes as follows:

  1. $S = {\rm empty~set}$
  2. pick the node with highest degreeindividual influence, call it $v_1$; $S = S\cup v_1$
  3. remove $v_1$ and all edges connecting $v_1$ to the rest of the network
  4. repeat until $S$ has $k$ vertices

I have two questions about influential nodes in social networks.
a) Is there any algorithm to find the solution, or an approximation of it in a decentralized fashion?
b) Did anyone apply other algorithms, such as Page-Rank and similar, to solve the same problem?

In this paper by Kempe-Kleinberg-Tardos, the Authors propose a greedy algorithms based on submodular functions to determine the $k$ most influential nodes in a graph, with applications to social networks.

Basically the algorithm goes as follows:

  1. $S = {\rm empty~set}$
  2. pick the node with highest degree, call it $v_1$; $S = S\cup v_1$
  3. remove $v_1$ and all edges connecting $v_1$ to the rest of the network
  4. repeat until $S$ has $k$ vertices

I have two questions about influential nodes in social networks.
a) Is there any algorithm to find the solution, or an approximation of it in a decentralized fashion?
b) Did anyone apply other algorithms, such as Page-Rank and similar, to solve the same problem?

In this paper by Kempe-Kleinberg-Tardos, the Authors propose a greedy algorithms based on submodular functions to determine the $k$ most influential nodes in a graph, with applications to social networks.

Basically the algorithm goes as follows:

  1. $S = {\rm empty~set}$
  2. pick the node with highest individual influence, call it $v_1$; $S = S\cup v_1$
  3. remove $v_1$ and all edges connecting $v_1$ to the rest of the network
  4. repeat until $S$ has $k$ vertices

I have two questions about influential nodes in social networks.
a) Is there any algorithm to find the solution, or an approximation of it in a decentralized fashion?
b) Did anyone apply other algorithms, such as Page-Rank and similar, to solve the same problem?

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Decentralized algorithm for determining influential nodes in social networks

In this paper by Kempe-Kleinberg-Tardos, the Authors propose a greedy algorithms based on submodular functions to determine the $k$ most influential nodes in a graph, with applications to social networks.

Basically the algorithm goes as follows:

  1. $S = {\rm empty~set}$
  2. pick the node with highest degree, call it $v_1$; $S = S\cup v_1$
  3. remove $v_1$ and all edges connecting $v_1$ to the rest of the network
  4. repeat until $S$ has $k$ vertices

I have two questions about influential nodes in social networks.
a) Is there any algorithm to find the solution, or an approximation of it in a decentralized fashion?
b) Did anyone apply other algorithms, such as Page-Rank and similar, to solve the same problem?