A Mathematical Foundation for Stochastic Opinion Dynamics

Luis E. Castro and Nazrul I. Shaikh
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Luis E. Castro: Department of Industrial Engineering, University of Miami, Coral Gables, USA
Nazrul I. Shaikh: Department of Industrial Engineering, University of Miami, Coral Gables, USA

International Journal of Business Analytics (IJBAN), 2019, vol. 6, issue 1, 20-42

Abstract: This article presents a stochastic opinion dynamics model where (a) the opinion of each agent in a network is modeled as a probability distribution as against a point object, (b) consensus is defined as the stability region of the ensuing set of stochastic difference equations, and (c) compromise solutions can be derived between agents who don't have a consensus. The model is well suited for tracking opinion dynamics over large online systems such as Twitter and Yelp where opinions need to be extracted from the user-generated text data. Theoretical conditions for the existence of consensus and the impact that stubborn agents have on opinion dynamics are also presented.

Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:igg:jban00:v:6:y:2019:i:1:p:20-42

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