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Social interactions in small groups

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  • Brian Krauth

Abstract

In the well-known `critical mass' model of social interactions, aggregate behaviour exhibits multiple equilibria if the influence of group behaviour on individual behaviour exceeds some fairly high threshold. I demonstrate that this property depends on an implicit assumption that the relevant social group is large (infinite). With small (finite) social groups, the same model exhibits multiplicity whenever group behaviour exerts influence. The range of equilibrium group behaviour depends on the size of the social group as well as its strength of influence. Brief applications on youth smoking and retirement planning demonstrate the implications of these results for applied work.

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Bibliographic Info

Article provided by Canadian Economics Association in its journal Canadian Journal of Economics.

Volume (Year): 39 (2006)
Issue (Month): 2 (May)
Pages: 414-433

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Handle: RePEc:cje:issued:v:39:y:2006:i:2:p:414-433

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Cited by:
  1. Lux, Thomas, 2008. "Rational forecasts or social opinion dynamics? Identification of interaction effects in a business climate survey," Economics Working Papers 2008,07, Christian-Albrechts-University of Kiel, Department of Economics.
  2. Peter Kooreman & Adriaan R. Soetevent, 2007. "A discrete-choice model with social interactions: with an application to high school teen behavior," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 22(3), pages 599-624.
  3. Grajzl, Peter & Baniak, Andrzej, 2012. "Mandating behavioral conformity in social groups with conformist members," Journal of Economic Behavior & Organization, Elsevier, vol. 82(2), pages 479-493.
  4. Mirta B. Gordon & Jean-Pierre Nadal & Denis Phan & Viktoriya Semeshenko, 2012. "Entanglement between Demand and Supply in Markets with Bandwagon Goods," Papers 1209.1321, arXiv.org, revised Dec 2012.
  5. Brian Krauth, 2004. "Simulation-based estimation of peer effects," Econometrics 0408002, EconWPA.
  6. Katarzyna Ostasiewicz & Michal H. Tyc & Piotr Goliczewski & Piotr Magnuszewski & Andrzej Radosz & Jan Sendzimir, 2006. "Integrating economic and psychological insights in binary choice models with social interactions," Papers physics/0609170, arXiv.org.
  7. Frank van Erp & Niels Vermeer & Daniel van Vuuren, 2013. "Non-financial determinants of retirement," CPB Discussion Paper 243, CPB Netherlands Bureau for Economic Policy Analysis.
  8. Viktoriya Semeshenko & Alexis Garapin & Bernard Ruffieux & Mirta Gordon, 2010. "Information-driven coordination: experimental results with heterogeneous individuals," Theory and Decision, Springer, vol. 69(1), pages 119-142, July.
  9. Morey, Edward R. & Kritzberg, David, 2012. "It's not where you do it, it's who you do it with?," Journal of choice modelling, Elsevier, vol. 5(3), pages 176-191.

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