Furthermore, based on Hansen’s (2004) study of Wall Street, opportunity
gives way to embeddedness in both legitimate and illegitimate networks, with
different manifestations in each one. Legitimate network actors unexpectedly
become more embedded with the formation of cliques, dependent broker ties,
and reduction of structural holes. This is contrary to competitive economic
models. Illegitimate networks, on the other hand, become more centralized
and stringy, and reduce competition for the precious resource of information
by operating more efficiently than legitimate networks. The illegal network
represents informal structure sprouting from formalized professional ties. This
is an important finding for future research, as organized crime networks such
as the Mafia and motorcycle gangs do have formalized structure, even though
their roots are in informal groups. Likewise, white-collar criminal networks
are suggested to have the same social evolution, but in reverse: informal illegal
networks emerge from formal legitimate, professional networks.