Influential listeners: An experiment on persuasion bias in social networks
AbstractThis paper presents an experimental investigation of persuasion bias, a form of bounded rationality whereby agents communicating through a social network are unable to account for repetitions in the information they receive. We find that, after repeated communication within a social network, social influence depends not only on being listened to by many others, but also on listening to many others. We show that persuasion bias can be viewed as an extreme case of a generalized boundedly rational updating rule in which agents receive more or less attention depending on how many other agents they listen to. The results indicate that behavior in the experiment is consistent with an updating rule according to which agents' social influence is proportional to their indegree.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal European Economic Review.
Volume (Year): 56 (2012)
Issue (Month): 6 ()
Contact details of provider:
Web page: http://www.elsevier.com/locate/eer
Social networks; Learning; Social influence; Persuasion bias; Bounded rationality;
Other versions of this item:
- Luca Corazzini & Filippo Pavesi & Beatrice Petrovich & Luca Stanca, 2010. "Influential Listeners: An Experiment on Persuasion Bias in Social Networks," Working Papers 196, University of Milano-Bicocca, Department of Economics, revised Aug 2010.
- D85 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Network Formation
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
- A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
- L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
- Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Social and Economic Stratification
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Smith, L. & Sorensen, P., 1996.
"Pathological Outcomes of Observational Learning,"
96-19, Massachusetts Institute of Technology (MIT), Department of Economics.
- Timothy Conley & Udry Christopher, 2001. "Social Learning Through Networks: The Adoption of New Agricultural Technologies in Ghana," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 83(3), pages 668-673.
- Celen, Bogachan & Kariv, Shachar, 2004. "Observational learning under imperfect information," Games and Economic Behavior, Elsevier, vol. 47(1), pages 72-86, April.
- Abhijit Banerjee & Drew Fudenberg, 2010.
"Word of Mouth Learning,"
Levine's Working Paper Archive
723, David K. Levine.
- Anderson, Lisa R & Holt, Charles A, 1997. "Information Cascades in the Laboratory," American Economic Review, American Economic Association, vol. 87(5), pages 847-62, December.
- Shachar Kariv & Syngjoo Choi & Douglas Gale, 2007.
"Social Learning in Networks: A Quantal Response Equilibrium Analysis of Experimental Data,"
843644000000000107, UCLA Department of Economics.
- Syngjoo Choi & Douglas Gale & Shachar Kariv, 2012. "Social learning in networks: a Quantal Response Equilibrium analysis of experimental data," Review of Economic Design, Springer, vol. 16(2), pages 135-157, September.
- Bikhchandani, Sushil & Hirshleifer, David & Welch, Ivo, 1992.
"A Theory of Fads, Fashion, Custom, and Cultural Change in Informational Cascades,"
Journal of Political Economy,
University of Chicago Press, vol. 100(5), pages 992-1026, October.
- Sushil Bikhchandani & David Hirshleifer & Ivo Welch, 2010. "A theory of Fads, Fashion, Custom and cultural change as informational Cascades," Levine's Working Paper Archive 1193, David K. Levine.
- Bogaçhan Çelen & Shachar Kariv, 2004. "Distinguishing Informational Cascades from Herd Behavior in the Laboratory," American Economic Review, American Economic Association, vol. 94(3), pages 484-498, June.
- Zwiebel, Jeffrey H. & Vayanos, Dimitri & DeMarzo, Peter M., 2001.
"Persuasion Bias, Social Influence, and Uni-Dimensional Opinions,"
1719, Stanford University, Graduate School of Business.
- Peter M. Demarzo & Dimitri Vayanos & Jeffrey Zwiebel, 2003. "Persuasion Bias, Social Influence, And Unidimensional Opinions," The Quarterly Journal of Economics, MIT Press, vol. 118(3), pages 909-968, August.
- DeMarzo, Peter M. & Vayanos, Dimitri & Zwiebel, Jeffrey, 2003. "Persuasion bias, social influence, and uni-dimensional opinions," Open Access publications from London School of Economics and Political Science http://eprints.lse.ac.uk/, London School of Economics and Political Science.
- Urs Fischbacher, 2007. "z-Tree: Zurich toolbox for ready-made economic experiments," Experimental Economics, Springer, vol. 10(2), pages 171-178, June.
- Bala, Venkatesh & Goyal, Sanjeev, 1998. "Learning from Neighbours," Review of Economic Studies, Wiley Blackwell, vol. 65(3), pages 595-621, July.
- Gale, Douglas & Kariv, Shachar, 2003. "Bayesian learning in social networks," Games and Economic Behavior, Elsevier, vol. 45(2), pages 329-346, November.
- Banerjee, Abhijit V, 1992. "A Simple Model of Herd Behavior," The Quarterly Journal of Economics, MIT Press, vol. 107(3), pages 797-817, August.
- Daron Acemoglu & Munther A. Dahleh & Ilan Lobel & Asuman Ozdaglar, 2008.
"Bayesian Learning in Social Networks,"
NBER Working Papers
14040, National Bureau of Economic Research, Inc.
- Benjamin Enke & Florian Zimmermann, 2013.
"Correlation Neglect in Belief Formation,"
Bonn Econ Discussion Papers
bgse04_2013, University of Bonn, Germany.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wendy Shamier).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.