There has been a rapid growth of studies focused on selection and socialization processes of peer groups, mostly due to the development of stochastic actor-based models to analyze longitudinal social network data. One of the core assumptions of these models is that individuals have an accurate knowledge of the dyadic relationships within their network (i.e., who is and is not connected to whom). Recent cross-sectional findings suggest that elementary school children are very inaccurate in perceiving their classmates’ dyadic relationships. These findings question the validity of stochastic actor-based models to study the developmental dynamics of children and carry implications for future research as well as for the interpretation of past findings. The goal of the present study was thus to further explore the adequacy of the accuracy assumption, analysing data from three longitudinal samples of different age groups (elementary school children and adolescents). Our results support the validity of stochastic actor-based models to study the network of adolescents and suggest that the violation of the accuracy assumption for elementary school children is not as severe as previously thought.