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Knowledge That's Social

Author

Listed:
  • Chatterjee, Sidharta
  • Samanta, Mousumi

Abstract

In this research paper, we discuss the nature of social knowledge and how it can influence consumer sentiments by affecting their economic decisions to some extent. In fact, this is a brief study of social knowledge summarizing its evolutionary origin and phylogenesis in the modern context. We have designed a simplistic mathematical model for a theoretical understanding of our assumption that has practical implications regarding its utility in the society. We find social networks generate enough social information that can influence user choice and preferences. Our study has implications for both the users and the developers of social networking sites.

Suggested Citation

  • Chatterjee, Sidharta & Samanta, Mousumi, 2021. "Knowledge That's Social," MPRA Paper 108343, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:108343
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    References listed on IDEAS

    as
    1. Milgrom, Paul & Roberts, John, 1986. "Price and Advertising Signals of Product Quality," Journal of Political Economy, University of Chicago Press, vol. 94(4), pages 796-821, August.
    2. Arrow, Kenneth J, 1994. "Methodological Individualism and Social Knowledge," American Economic Review, American Economic Association, vol. 84(2), pages 1-9, May.
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    Keywords

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    JEL classification:

    • Z1 - Other Special Topics - - Cultural Economics
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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