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Reaching Consensus in Social Networks

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Abstract

This paper considers network based non-Bayesian opinion formation on a linearly ordered set of opinions. The general class of constricting and continuous Markov revision functions, that contains the standard weighted average revision functions, is analyzed. A revision function is constricting if the revised opinion is strictly higher (lower) ranked than the lowest (highest) ranked observed opinion. The main advantages of the general approach are that (i) it captures a wide range of applications, and (ii) the constricting property is easily testable. It is shown that asymptotic consensus occurs in strongly connected networks whenever the revision functions of all agents are constricting and continuous. The revision function does not need to be the same across agents, or across time for a given agent. Additionally, asymptotic consensus is shown to hold almost surely if agents are subject to a natural class of probabilistic mistakes when forming their opinions.

Suggested Citation

  • Mueller-Frank, Manuel, 2015. "Reaching Consensus in Social Networks," IESE Research Papers D/1116, IESE Business School.
    • Handle: RePEc:ebg:iesewp:d-1116
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    References listed on IDEAS

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    Cited by:

    1. Mueller-Frank, Manuel & Arieliy, Itai, 2015. "A General Model of Boundedly Rational Observational Learning: Theory and Experiment," IESE Research Papers D/1120, IESE Business School.
    2. Christos Mavridis & Nikolas Tsakas, 2021. "Social Capital, Communication Channels and Opinion Formation," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 56(4), pages 635-678, May.
    3. Kivinen, Steven & Tumennasan, Norovsambuu, 2019. "Consensus in social networks: Revisited," Journal of Mathematical Economics, Elsevier, vol. 83(C), pages 11-18.

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    More about this item

    Keywords

    Networks; social learning; consensus; non-Bayesian learning; boundedly rational learning; convergence; cognitive dissonance;
    All these keywords.

    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • D85 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Network Formation

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