Similar Search Results

Discovery and social learning in non-priced environments : an Austrian view of social network theory

Chamlee-Wright, Emily; Myers, Justus A. - In: The review of Austrian economics 21 (2008) 2/3, pp. 151-166

Persistent link: https://www.econbiz.de/10003709702

Naive Learning in Social Networks : Convergence, Influence and Wisdom of Crowds

Jackson, Matthew O.; Golub, Benjamin - 2012

We study learning and influence in a setting where agents communicate according to an arbitrary social network and naively update their beliefs by repeatedly taking weighted averages of their neighbors' opinions. A focus is on conditions under which beliefs of all agents in large societies...

Persistent link: https://www.econbiz.de/10014049685

How homophily affects learning and diffusion in networks

Golub, Benjamin; Jackson, Matthew O. - 2009

We examine how three different communication processes operating through social networks are affected by homophily - the tendency of individuals to associate with others similar to themselves. Homophily has no effect if messages are broadcast or sent via shortest paths; only connection density...

Persistent link: https://www.econbiz.de/10008811020

Boundedly rational opinion dynamics in social networks : does indegree matter?

Battiston, Pietro; Stanca, Luca M. - 2015

This paper investigates opinion dynamics and social influence in directed communication networks. We study the theoretical properties of a boundedly rational model of opinion formation in which individuals aggregate the information they receive from their neighbors by using weights that are a...

Persistent link: https://www.econbiz.de/10010510796

Network Structure and the Speed of Learning : Measuring Homophily Based on its Consequences

Golub, Benjamin; Jackson, Matthew O. - 2012

Homophily is the tendency of people to associate relatively more with those who are similar to them than with those who are not. In Golub and Jackson (2010a), we introduced degree-weighted homophily (DWH), a new measure of this phenomenon, and showed that it gives a lower bound on the time it...

Persistent link: https://www.econbiz.de/10014184836

Information Heterogeneity and the Speed of Learning in Social Networks

Jadbabaie, Ali; Molavi, Pooya; Tahbaz-Salehi, Alireza - 2013

This paper examines how the structure of a social network and the quality of information available to different agents determine the speed of social learning. To this end, we study a variant of the seminal model of DeGroot (1974), according to which agents linearly combine their personal...

Persistent link: https://www.econbiz.de/10014039045

Social Innovation and Austrian Economics : Exploring the Gains From Intellectual Trade

Novak, Mikayla - 2021

of economic innovation. Over recent decades the language and concepts of innovation theory has broadened to non … institutional character. Social innovation theory assails the limitations of market-state duality by stressing the involvement of … non-market, non-state social actors in promulgating social novelties. Austrian perspectives on social theory may also gain …

Persistent link: https://www.econbiz.de/10013249594

Markets as Processes of Moral Discovery

Powell, Benjamin - 2018

The Genesis and Ethos of the Market makes the assertion that virtue is not inconsistent with economic liberty. This raises the question about the relationship between virtue and economic liberty addressed in the "Civil Economy" tradition of the Neapolitan Enlightenment. We explore this question...

Persistent link: https://www.econbiz.de/10012938098

Cooperation and Network Formation

Balmaceda, Felipe - 2005

The present paper proposes a simple model for studying the interplay between self-enforcing cooperation and network … explanation of how trust, by which I mean the existence of self-sustainable cooperation, can emerge in a society and how the …

Persistent link: https://www.econbiz.de/10014027935

Uncertainty-driven cooperation

Cetemen, Doruk; Hwang, Ilwoo; Kaya, Ayça - In: Theoretical economics : TE ; an open access journal in … 15 (2020) 3, pp. 1023-1058

We consider dynamic team production in the presence of uncertainty. Team members receive interim feedback that depends on both their current effort level and the project's uncertain prospects. In this environment, each member can encourage the others by making them more optimistic about the...

Persistent link: https://www.econbiz.de/10012308721