Echo chambers and their effects on economic and political outcomes

Gilat Levy and Ronny Razin

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: In this review, we survey the economics literature on echo chambers. We identify echo chambers as arising from a combination of two phenomena: (a) the choice of individuals to segregate with like-minded ones, i.e., the creation of chambers, and (b) behavioral biases that induce polarization when individuals exchange beliefs in these chambers, i.e., the echo. We summarize the literatures on these two phenomena and suggest how to combine the two literatures to gain insights about the effects of echo chambers on economic and political outcomes. We end by suggesting pathways for future research and discussing policy interventions to alleviate echo chambers.

Keywords: echo chambers; information silos; segregation; correlation neglect; beliefs (search for similar items in EconPapers)
JEL-codes: A13 A14 A20 D70 D80 D90 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2019-08-02
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (16)

Published in Annual Review of Economics, 2, August, 2019, 11, pp. 303 - 328. ISSN: 1941-1383

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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:101413

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