Learning in Canonical Networks

Syngjoo Choi, Sanjeev Goyal, Frederic Moisan and Yu Yang Tony To

Janeway Institute Working Papers from Faculty of Economics, University of Cambridge

Abstract: Subjects observe a private signal and then make an initial guess; they observe their neighbors’ guesses and guess again, and so forth. We study learning dynamics in three networks: Erdös-Rényi, Stochastic Block (reflecting homophily) and Royal Family (that accommodates both highly connected celebrities and local intearctions). We find that the Royal Family network is more likely to sustain incorrect consensus and that the Stochastic Block network is more likely to persist with diverse beliefs. These aggregate patterns are consistent with individuals following DeGroot updating rule.

Keywords: consensus; experimental social science; social learning; social networks (search for similar items in EconPapers)
JEL-codes: C91 C92 D83 D85 (search for similar items in EconPapers)
Date: 2022-06-01
New Economics Papers: this item is included in nep-exp, nep-gth, nep-net and nep-ure
Note: sg472, yytt2
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https://www.janeway.econ.cam.ac.uk/working-paper-pdfs/jiwp2212.pdf

Related works:
Working Paper: Learning in Canonical Networks (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:cam:camjip:2212

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