Related papers: What do leaders know?
An informed planner wishes to spread information among a group of agents in order to induce efficient coordination -- say the adoption of a new technology with positive externalities. The agents are connected via a social network. The…
How does temporally structured private and social information shape collective decisions? To address this question we consider a network of rational agents who independently accumulate private evidence that triggers a decision upon reaching…
When individuals in a social network learn about an unknown state from private signals and neighbors' actions, the network structure often causes information loss. We consider rational agents and Gaussian signals in the canonical sequential…
During an epidemic, the information available to individuals in the society deeply influences their belief of the epidemic spread, and consequently the preventive measures they take to stay safe from the infection. In this paper, we develop…
We study a model of information aggregation and social learning recently proposed by Jadbabaie, Sandroni, and Tahbaz-Salehi, in which individual agents try to learn a correct state of the world by iteratively updating their beliefs using…
Pairwise interactions between individuals are taken as fundamental drivers of collective behavior responsible for group cohesion and decision-making. While an individual directly influences only a few neighbors, over time indirect…
A core tenet underpinning the conception of contemporary information networks, such as social media platforms, is that users should not be constrained in the amount of information they can freely and willingly exchange with one another…
Individual choices are either based on personal experience or on information provided by peers. The latter case, causes individuals to conform to the majority in their neighborhood. Such herding behavior may be very efficient in aggregating…
An information cascade is a circumstance where agents make decisions in a sequential fashion by following other agents. Bikhchandani et al., predict that once a cascade starts it continues, even if it is wrong, until agents receive an…
Social life clusters into groups held together by ties that also transmit information. When collective problems occur, group members use their ties to discuss what to do and to establish an agreement, to be reached quick enough to prevent…
Whether an idea, information, infection, or innovation diffuses throughout a society depends not only on the structure of the network of interactions, but also on the timing of those interactions. Recent studies have shown that diffusion…
Being able to correctly aggregate the beliefs of many people into a single belief is a problem fundamental to many important social, economic and political processes such as policy making, market pricing and voting. Although there exist…
I develop a rather simple agent-based model to capture a co-evolution of opinion formation, political decision making and economic outcomes. I use this model to study how societies form opinions if their members have opposing interests.…
It is well understood that the structure of a social network is critical to whether or not agents can aggregate information correctly. In this paper, we study social networks that support information aggregation when rational agents act…
The proliferation of information disseminated by public/social media has made decision-making highly challenging due to the wide availability of noisy, uncertain, or unverified information. Although the issue of uncertainty in information…
We present the results of detailed numerical study of a model for the sharing and sorting of informations in a community consisting of a large number of agents. The information gathering takes place in a sequence of mutual bipartite…
A common assumption in the literature on information diffusion is that populations are homogeneous regarding individuals' information acquisition and propagation process: Individuals update their informed and actively communicating state…
Collective action and group formation are fundamental behaviors among both organisms cooperating to maximize their fitness, and people forming socioeconomic organizations. Researchers have extensively explored social interaction structures…
Humans and other animals often follow the decisions made by others because these are indicative of the quality of possible choices, resulting in `social response rules': observed relationships between the probability that an agent will make…
An evolving population, in which individual members (`agents') adapt their behaviour according to past experience, is of central importance to many disciplines. Because of their limited knowledge and capabilities, agents are forced to make…