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Information diffusion in networks through social learning

Lobel, Ilan; Sadler, Evan - In: Theoretical economics : TE ; an open access journal in … 10 (2015) 3, pp. 807-851

We study perfect Bayesian equilibria of a sequential social learning model in which agents in a network learn about an underlying state by observing neighbors' choices. In contrast with prior work, we do not assume that the agents' sets of neighbors are mutually independent. We introduce a new...

Persistent link: https://www.econbiz.de/10011673206

Naïve learning in social networks with random communication

Heidergott, Bernd; Huang, Jiaping; Lindner, Ines - 2018

We study social learning in a social network setting where agents receive independent noisy signals about the truth. Agents naïvely update beliefs by repeatedly taking weighted averages of neighbors' opinions. The weights are fixed in the sense of representing average frequency and intensity of...

Persistent link: https://www.econbiz.de/10011801379

Contagious herding and endogenous network formation in financial networks

Georg, Co-Pierre - 2014

When banks choose similar investment strategies, the financial system becomes vulnerable to common shocks. Banks decide about their investment strategy ex-ante based on a private belief about the state of the world and a social belief formed from observing the actions of peers. When the social...

Persistent link: https://www.econbiz.de/10010405430

Observational Learning with Position Uncertainty

Monzón, Ignacio - 2016

Observational learning is typically examined when agents have precise information about their position in the sequence of play. We present a model in which agents are uncertain about their positions. Agents sample the decisions of past individuals and receive a private signal about the state of...

Persistent link: https://www.econbiz.de/10013000538

Dynamics of information exchange in endogenous social networks

Acemoglu, Daron; Bimpikis, Kostas; Ozdaglar, Asuman E. - In: Theoretical economics : TE ; an open access journal in … 9 (2014) 1, pp. 41-97

We develop a model of information exchange through communication and investigate its implications for information aggregation in large societies. An \textit{underlying state} determines payoffs from different actions. Agents decide which others to form a costly \textit{communication link} with,...

Persistent link: https://www.econbiz.de/10011684965

Adaptive social learning

March, Christoph - 2016

The paper investigates social-learning when the information structure is not commonly known. Individuals repeatedly interact in social-learning settings with distinct information structures. In each round of interaction, they use their experience gained in past rounds to draw inferences from...

Persistent link: https://www.econbiz.de/10011434567

Altruistic observational learning

March, Christoph; Ziegelmeyer, Anthony - 2016

We report two information cascade game experiments that directly test the impact of altruism on observational learning. Participants interact in two parallel sequences, the observed and the unobserved sequence. Only the actions of the observed entail informational benefits to subsequent...

Persistent link: https://www.econbiz.de/10011436128

Excessive herding in the laboratory : the role of intuitive judgments

March, Christoph; Ziegelmeyer, Anthony - 2018

actions that contradict their high quality signals they herd more extensively than predicted by Bayes-rational herding …-Bayesian updating and informational misinferences are the two channels that drive excessive herding, while the strong (resp. mild … observational learning accounts for the phenomenon of excessive herding, it captures well herd behavior with medium quality signals …

Persistent link: https://www.econbiz.de/10011789104

Conversation, Observational Learning, and Informational Cascades

Cao, H. Henry; Hirshleifer, David A. - 2009

though they can discuss the outcomes of their choices. Models of informational herding or cascades have examined how rational … the cascades/herding literature. In a setting which adds 'conversational' learning about both the payoff outcomes of … predecessors to a basic cascades model, we describe conditions under which (1) cascades/herding occurs with probability one; (2 …

Persistent link: https://www.econbiz.de/10014132384

Leading, Learning and Herding

Miller, Steven J.; Stone, Daniel F. - 2013

increase the probability of herding on consumption of both high and low quality goods …

Persistent link: https://www.econbiz.de/10014191123

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