Related papers: Impact of Fake Agents on Information Cascades

People often learn from other's actions when they make decisions while doing online shopping. This kind of observational learning may lead to information cascades, which means agents might ignore their own signals and follow the 'trend'…

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…

It is well known that sequential decision making may lead to information cascades. That is, when agents make decisions based on their private information, as well as observing the actions of those before them, then it might be rational to…

We study the pairwise bounded confidence model on scale-free networks where new agents regularly arrive over time. The probability that arriving agents form links to preexisting ones depends on both agent degree and opinion proximity. In…

Collective behavior in online social media and networks is known to be capable of generating non-intuitive dynamics associated with crowd wisdom and herd behaviour. Even though these topics have been well-studied in social science, the…

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…

We consider an environment where players need to decide whether to buy a certain product (or adopt a technology) or not. The product is either good or bad, but its true value is unknown to the players. Instead, each player has her own…

Transmission of disease, spread of information and rumors, adoption of new products, and many other network phenomena can be fruitfully modeled as cascading processes, where actions chosen by nodes influence the subsequent behavior of…

We study how fads emerge under social learning in a changing environment. We consider a simple sequential social learning model where rational agents arrive in order, each acting only once, and the underlying unknown state constantly…

In recent studies of political decision-making, apparently anomalous behavior has been observed on the part of voters, in which negative information about a candidate strengthens, rather than weakens, a prior positive opinion about the…

We compare how well agents aggregate information in two repeated social learning environments. In the first setting agents have access to a public data set. In the second they have access to the same data, and also to the past actions of…

We study a dynamical Ising model of agents' opinions (buy or sell) with coupling coefficients reassessed continuously in time according to how past external news (magnetic field) have explained realized market returns. By combining herding,…

We analyze a sequential decision making model in which decision makers (or, players) take their decisions based on their own private information as well as the actions of previous decision makers. Such decision making processes often lead…

Integrating information gained by observing others via Social Bayesian Learning can be beneficial for an agent's performance, but can also enable population wide information cascades that perpetuate false beliefs through the agent…

This paper studies a dynamic model of information acquisition, in which information might be secretly manipulated. A principal must choose between a safe action with known payoff and a risky action with uncertain payoff, favoring the safe…

Adaptive networks consist of a collection of agents with adaptation and learning abilities. The agents interact with each other on a local level and diffuse information across the network through their collaborations. In this work, we…

To make decisions we are guided by the evidence we collect, as well as the opinions of friends and neighbors. How do we integrate our private beliefs with information we obtain from our social network? To understand the strategies humans…

We study a social learning model in which agents iteratively update their beliefs about the true state of the world using private signals and the beliefs of other agents in a non-Bayesian manner. Some agents are stubborn, meaning they…

The influence of a fixed number of agents with the same fixed behavior on the dynamics of the minority game is studied. Alternatively, the system studied can be considered the minority game with a change in the comfort threshold away from…

We study sequential social learning with continuous actions and conformity when agents can endogenously generate hard, publicly verifiable evidence. Actions transmit soft information whose visibility depends on responsiveness to private…