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Multidimensional Social Learning

Author

Listed:
  • Itai Arieli
  • Manuel Mueller-Frank

Abstract

This article provides a model of social learning where the order in which actions are taken is determined by an $m$-dimensional integer lattice rather than along a line as in the herding model. The observation structure is determined by a random network. Every agent links to each of his preceding lattice neighbours independently with probability $p$, and observes the actions of all agents that are reachable via a directed path in the realized social network. For $m\geq 2$, we show that as $p<1$ goes to one, (1) so does the asymptotic proportion of agents who take the optimal action, (2) this holds for any informative signal distribution, and (3) bounded signal distributions might achieve higher expected welfare than unbounded signal distributions. In contrast, if signals are bounded and $p=1$, all agents select the suboptimal action with positive probability.

Suggested Citation

  • Itai Arieli & Manuel Mueller-Frank, 2019. "Multidimensional Social Learning," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 86(3), pages 913-940.
    • Handle: RePEc:oup:restud:v:86:y:2019:i:3:p:913-940.
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    File URL: http://hdl.handle.net/10.1093/restud/rdy029
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    Cited by:

    1. Srinivas Arigapudi & Omer Edhan & Yuval Heller & Ziv Hellman, 2022. "Mentors and Recombinators: Multi-Dimensional Social Learning," Papers 2205.00278, arXiv.org, revised Nov 2023.
    2. Smirnov, Aleksei & Starkov, Egor, 2025. "Designing social learning," European Economic Review, Elsevier, vol. 178(C).
    3. Itai Arieli & Fedor Sandomirskiy & Rann Smorodinsky, 2020. "On social networks that support learning," Papers 2011.05255, arXiv.org.
    4. Amir Ban & Moran Koren, 2020. "A Practical Approach to Social Learning," Papers 2002.11017, arXiv.org.
    5. Alex Centeno, 2022. "A Structural Model for Detecting Communities in Networks," Papers 2209.08380, arXiv.org, revised Oct 2022.
    6. Arieli, Itai & Koren, Moran & Smorodinsky, Rann, 2022. "The implications of pricing on social learning," Theoretical Economics, Econometric Society, vol. 17(4), November.
    7. Wade Hann-Caruthers & Minghao Pan & Omer Tamuz, 2024. "Network and timing effects in social learning," Papers 2412.07061, arXiv.org.
    8. Mueller-Frank, Manuel & Arieliy, Itai, 2015. "Social Learning and the Vanishing Value of Private Information," IESE Research Papers D/1119, IESE Business School.

    More about this item

    Keywords

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    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • D85 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Network Formation
    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

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