Mean-Field Game Modeling the Bandwagon Effect with Activation Costs

Fabio Bagagiolo (), Dario Bauso () and Raffaele Pesenti ()
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Fabio Bagagiolo: Università di Trento
Dario Bauso: The University of Sheffield
Raffaele Pesenti: Università “Ca’Foscari” Venezia

Dynamic Games and Applications, 2016, vol. 6, issue 4, No 3, 456-476

Abstract: Abstract This paper provides a mean-field game theoretic model of the bandwagon effect in social networks. This effect can be observed whenever individuals tend to align their own opinions to a mainstream opinion. The contribution is threefold. First, we describe the opinion propagation as a mean-field game with local interactions. Second, we establish mean-field equilibrium strategies in the case where the mainstream opinion is constant. Such strategies are shown to have a threshold structure. Third, we extend the use of threshold strategies to the case of time-varying mainstream opinion and study the evolution of the macroscopic system.

Keywords: Games with infinitely many players; Bandwagon effect; Activation costs; Threshold policies; Mean-field games; Mode; 91A13; 91A23; 91A40 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (1)

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DOI: 10.1007/s13235-015-0167-x

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