Two-Dimensional Information Acquisition in Social Learning

Nina Bobkova and Helene Mass ()

CRC TR 224 Discussion Paper Series from University of Bonn and University of Mannheim, Germany

Abstract: We analyze a social learning model where the agents’ utility depends on a common component and an idiosyncratic component. Each agent splits a learning budget between the two components. We show that information about the common component is fully aggregated if and only if agents do not have to sacrifice learning about their idiosyncratic component in order to learn marginally about the common component. If agents vary in how much they value their idiosyncratic component, then the order of agents can strictly impact how much information is aggregated

Keywords: Information Acquisition; Social Learning; Information Aggregation (search for similar items in EconPapers)
JEL-codes: D82 D83 (search for similar items in EconPapers)
Pages: 17
Date: 2023-06
New Economics Papers: this item is included in nep-mic and nep-upt
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Journal Article: Two-dimensional information acquisition in social learning (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:bon:boncrc:crctr224_2023_433

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