We propose a boundedly rational model of opinion formation in which individuals are subject to persuasion bias; that is, they fail to account for possible repetition in the information they receive. We show that persuasion bias implies the phenomenon of social influence, whereby one’s...

We propose a boundedly-rational model of opinion formation where agents are subject to the phenomenon of persuasion. We argue that persuasion--whereby repeated exposure to an opinion has a cumulative effect on an agent's beliefs--is pervasive and closely related to the concept of social...

We propose a boundedly-rational model of opinion formation where agents are subject to the phenomenon of persuasion. We argue that persuasion - whereby repeated exposure to an opinion has a cumulative effect on an agent's beliefs - is pervasive and closely related to the concept of social...