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Fake News in Social Networks

Author

Listed:
  • Christoph Aymanns

    (London School of Economics & Political Science (LSE) - London School of Economics; University of St. Gallen - School of Finance)

  • Jakob Foerster

    (University of Oxford)

  • Co-Pierre Georg

    (University of Cape Town; Deutsche Bundesbank)

  • Matthias Weber

    (University of St. Gallen - School of Finance; Swiss Finance Institute)

Abstract

We propose multi-agent reinforcement learning as a new method for modeling fake news in social networks. This method allows us to model human behavior in social networks both in unaccustomed populations and in populations that have adapted to the presence of fake news. In particular the latter is challenging for existing methods. We find that a fake-news attack is more effective if it targets highly connected people and people with weaker private information. Attacks are more effective when the disinformation is spread across several agents than when the disinformation is concentrated with more intensity on fewer agents. Furthermore, fake news spread less well in balanced networks than in clustered networks. We test a part of these findings in a human-subject experiment. The experimental evidence provides support for the predictions from the model. This suggests that our model is suitable to analyze the spread of fake news in social networks.

Suggested Citation

  • Christoph Aymanns & Jakob Foerster & Co-Pierre Georg & Matthias Weber, 2022. "Fake News in Social Networks," Swiss Finance Institute Research Paper Series 22-58, Swiss Finance Institute.
    • Handle: RePEc:chf:rpseri:rp2258
    as

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    References listed on IDEAS

    as
    1. Sanjeev Goyal & Stephanie Rosenkranz & Utz Weitzel & Vincent Buskens, 2017. "Information Acquisition and Exchange in Social Networks," Economic Journal, Royal Economic Society, vol. 127(606), pages 2302-2331, November.
    2. Sanjeev Goyal & Stephanie Rosenkranz & Utz Weitzel & Vincent Buskens, 2017. "Information Acquisition and Exchange in Social Networks," Economic Journal, Royal Economic Society, vol. 127(606), pages 2302-2331, November.
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    6. Lesley Chiou & Catherine Tucker, 2018. "Fake News and Advertising on Social Media: A Study of the Anti-Vaccination Movement," NBER Working Papers 25223, National Bureau of Economic Research, Inc.
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