Related papers: When Influence Misleads: Informational and Strateg…
Despite strong evidence for peer effects, little is known about how individuals balance intrinsic preferences and social learning in different choice environments. Using a combination of experiments and discrete choice modeling, we show…
Social learning is defined as the ability of a population to aggregate information, a process which must crucially depend on the mechanisms of social interaction. Consumers choosing which product to buy, or voters deciding which option to…
In social network markets, the act of consumer choice in these industries is governed not just by the set of incentives described by conventional consumer demand theory, but by the choices of others in which an individual's payoff is an…
A key question concerning collective decisions is whether a social system can settle on the best available option when some members learn from others instead of evaluating the options on their own. This question is challenging to study, and…
This paper considers online reputation and polling systems where individuals make recommendations based on their private observations and recommendations of friends. Such interaction of individuals and their social influence is modelled as…
Humans do not always make rational choices, a fact that experimental economics is putting on solid grounds. The social context plays an important role in determining our actions, and often we imitate friends or acquaintances without any…
This paper presents an experimental study to investigate the learning and decision making behavior of individuals in a human society. Social learning is used as the mathematical basis for modelling interaction of individuals that aim to…
Peer recommendation is a crowdsourcing task that leverages the opinions of many to identify interesting content online, such as news, images, or videos. Peer recommendation applications often use social signals, e.g., the number of prior…
We consider a social learning problem, where a network of agents is interested in selecting one among a finite number of hypotheses. We focus on weakly-connected graphs where the network is partitioned into a sending part and a receiving…
Social learning -by observing and copying others- is a highly successful cultural mechanism for adaptation, outperforming individual information acquisition and experience. Here, we investigate social learning in the context of the uniquely…
Decisions taken in our everyday lives are based on a wide variety of information so it is generally very difficult to assess what are the strategies that guide us. Stock market therefore provides a rich environment to study how people take…
We study the roles of social and individual learning on outcomes of the Minority Game model of a financial market. Social learning occurs via agents adopting the strategies of their neighbours within a social network, while individual…
Market manipulation is a strategy used by traders to alter the price of financial securities. One type of manipulation is based on the process of buying or selling assets by using several trading strategies, among them spoofing is a popular…
It is widely believed that one's peers influence product adoption behaviors. This relationship has been linked to the number of signals a decision-maker receives in a social network. But it is unclear if these same principles hold when the…
As the sociological theory of homophily suggests, people tend to interact with those of similar preferences. Motivated by this well-established phenomenon, today's online sellers, such as Amazon,~seek~to learn a new buyer's private…
Online social networks are used to diffuse opinions and ideas among users, enabling a faster communication and a wider audience. The way in which opinions are conditioned by social interactions is usually called social influence. Social…
Social influence is the process by which individuals adapt their opinion, revise their beliefs, or change their behavior as a result of social interactions with other people. In our strongly interconnected society, social influence plays a…
The digital spread of misinformation is one of the leading threats to democracy, public health, and the global economy. Popular strategies for mitigating misinformation include crowdsourcing, machine learning, and media literacy programs…
Investigations of social influence in collective decision-making have become possible due to recent technologies and platforms that record interactions in far larger groups than could be studied before. Herding and its impact on…
The structure of communication networks is an important determinant of the capacity of teams, organizations and societies to solve policy, business and science problems. Yet, previous studies reached contradictory results about the…