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Learning in Canonical Networks

Author

Listed:
  • Choi, S.
  • Goyal, S.
  • Moisan, F.
  • To, Y. Y. T.

Abstract

Subjects observe a private signal and then make an initial guess; they observe their neighbors’ guesses and guess again, and so forth. We study learning dynamics in three networks: Erdös-Rényi, Stochastic Block (reflecting homophily) and Royal Family (that accommodates both highly connected celebrities and local intearctions). We find that the Royal Family network is more likely to sustain incorrect consensus and that the Stochastic Block network is more likely to persist with diverse beliefs. These aggregate patterns are consistent with individuals following DeGroot updating rule.

Suggested Citation

  • Choi, S. & Goyal, S. & Moisan, F. & To, Y. Y. T., 2022. "Learning in Canonical Networks," Cambridge Working Papers in Economics 2235, Faculty of Economics, University of Cambridge.
  • Handle: RePEc:cam:camdae:2235
    Note: sg472, yytt2
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    File URL: https://www.econ.cam.ac.uk/research-files/repec/cam/pdf/cwpe2235.pdf
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    Cited by:

    1. Choi, S & Goyal, S. & Moisan, F., 2019. "Connectors and Influencers," Cambridge Working Papers in Economics 1935, Faculty of Economics, University of Cambridge.

    More about this item

    Keywords

    consensus; experimental social science; social learning; social networks;
    All these keywords.

    JEL classification:

    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • C92 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Group Behavior
    • 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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