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Naïve Learning in Social Networks: Convergence, Influence and Wisdom of Crowds
Jackson, Matthew O.; Golub, Benjamin - 2007
We study learning and influence in a setting where agents communicate according to an arbitrary social network and naïvely 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/10010312406
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On the coevolution of social norms in primitive societies
Bagnoli, Lidia; Negroni, Giorgio - 2012
Two parties bargaining over a pie, the size of which is determined by their previous investment decisions. The bargaining rule is sensitive to investment behavior. Two games are considered. In both, bargaining proceeds according to the Nash Demand Game when a symmetric investments profile is...
Persistent link: https://www.econbiz.de/10011651750
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Egalitarianism. An evolutionary perspective
Bagnoli, Lindia; Negroni, Giorgio - 2013
Two parties bargaining over a pie, the size of which is determined by their previous investment decisions. Investment costs are heterogeneous. The bargaining rule is sensitive to investment behavior. Two games are studied which differ for the considered sociopolitical structure: communal...
Persistent link: https://www.econbiz.de/10011651780
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From Carl Menger's theory of goods to an evolutionary approach to consumer behaviour
Ruprecht, Wilhelm - 2005
features. For this purpose, Carl Menger's theory of goods is taken as a starting point. Whereas economists after the … 'marginalistic revolution' were almost exclusively concerned with the determinants of exchange value and developing price theory … connection between Menger's 19th century theory of goods and 20th century learning theories is established. The problem of how to …
Persistent link: https://www.econbiz.de/10010266740
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Settlement delays in the money market
Bartolini, Leonardo; Hilton, Spence; McAndrews, James - 2008
We track 38,000 money market trades from execution to delivery and return to provide a first empirical analysis of settlement delays in financial markets. In line with predictions from recent models showing that financial claims are settled strategically, we document a tendency by lenders to...
Persistent link: https://www.econbiz.de/10010283563
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Social networks and unraveling in labor markets
Fainmesser, Itay P. - 2010
This paper studies the phenomenon of early hiring in entry-level labor markets (e.g. the market for gastroenterology fellowships and the market for judicial clerks) in the presence of social networks. We offer a two-stage model in which workers in training institutions reveal information on...
Persistent link: https://www.econbiz.de/10010284029
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Performance pay and the erosion of worker cooperation: field experimental evidence
Burks, Stephen V.; Carpenter, Jeffrey P.; Goette, Lorenz - 2006
We report the results of a field experiment with bicycle messengers in Switzerland and the United States. Messenger work is individualized enough that firms can choose to condition pay on it, but significant externalities in messenger behavior nonetheless give their on-the-job interactions the...
Persistent link: https://www.econbiz.de/10010267460
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Time is not money
Ellingsen, Tore; Johannesson, Magnus - 2007
Casual observation suggests that people are more generous with their time than with their money. In this paper we present experimental evidence supporting the hypothesis. A third of our subjects demand no compensation for non-monetary investments, whereas almost all subjects demand compensation...
Persistent link: https://www.econbiz.de/10010281212
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Boundedly rational opinion dynamics in social networks: Does indegree matter?
Battiston, Pietro; Stanca, Luca - 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/10011335941
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Whom can you trust? Reputation and cooperation in networks
King, Maia - 2017
Community enforcement is an important device for sustaining efficiency in some repeated games of cooperation. We investigate cooperation when information about players' reputations spreads to their future partners through links in a social network that connects them. We find that information...
Persistent link: https://www.econbiz.de/10011928009