We examine how word-of-mouth learning may lead to uniform and possibly inefficient actions in finite time among a network of agents. In our model, agents are identically informed a priori and observe network neighbors’ actions as well as the payoffs of some or all of those actions (a...

An overview of what networks are and how they are used in marketing management practices is provided in this volume. Leading scholars in the field examine various types of relationships including: customer-to-customer networks; relationships as investment opportunities; and strategic alliances....