Learning in Canonical Networks
Syngjoo Choi (),
Frederic Moisan and
Yu Yang Tony To
Cambridge Working Papers in Economics from Faculty of Economics, University of Cambridge
Subjects observe a private signal and then make an initial guess; they observe their neighborsâ€™ guesses and guess again, and so forth. We study learning dynamics in three networks: ErdÃ¶s-RÃ©nyi, 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)
New Economics Papers: this item is included in nep-dem, nep-exp, nep-net, nep-soc and nep-ure
Note: sg472, yytt2
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Working Paper: Learning in Canonical Networks (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:cam:camdae:2235
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