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Information and Social Networks in Village Economies

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Abstract

This paper is a two-part survey of the literature on social learning in a network, with the first section on social learning and the second on network structures and formation. In the first part of this paper, we observe that, without intervention, social learning in a homogeneous population is likely to lead to optimal actions in the long run if individuals can revise their choices upon observing payoffs. The second part discusses some of the theoretical results on network formation. The second part concludes with a discussion on necessary refinements to the theory to allow more realistic description of economic agency in a network.

Suggested Citation

  • Arya B. Gaduh, 2002. "Information and Social Networks in Village Economies," CSIS Economics Working Paper Series WPE063, Centre for Strategic and International Studies, Jakarta, Indonesia.
    • Handle: RePEc:sis:wpecon:wpe063
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    File URL: http://www.csis.or.id/working_paper_file/7/wpe063.pdf
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    More about this item

    Keywords

    social learning; rural economy; network formation; development microeconomics;
    All these keywords.

    JEL classification:

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

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