IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/108343.html

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
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/108343/2/MPRA_paper_108343.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    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.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kyle Bagwell & Garey Ramey, 1988. "Advertising and Limit Pricing," RAND Journal of Economics, The RAND Corporation, vol. 19(1), pages 59-71, Spring.
    2. repec:ebl:ecbull:v:10:y:2004:i:8:p:1-8 is not listed on IDEAS
    3. Emre Yildiz, H. & Murtic, Adis & Klofsten, Magnus & Zander, Udo & Richtnér, Anders, 2021. "Individual and contextual determinants of innovation performance: A micro-foundations perspective," Technovation, Elsevier, vol. 99(C).
    4. Oluwakemi T. Oreagba & Olaleke O. Ogunnaike & Oladele J. Kehinde, 2021. "Capitalizing on Game Theory for Optimal Marketing Decision in Service Industry: Evidence From Telecommunication Industry in Nigeria," SAGE Open, , vol. 11(2), pages 21582440211, June.
    5. Polo, Yolanda & Sese, F. Javier & Verhoef, Peter C., 2011. "The Effect of Pricing and Advertising on Customer Retention in a Liberalizing Market," Journal of Interactive Marketing, Elsevier, vol. 25(4), pages 201-214.
    6. Michel S. Zouboulakis & John Kamarianos, 2002. "Racionalidad y cooperación entre firmas. Examen del comportamiento habitual de las industrias griegas," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 4(7), pages 98-113, July-Dece.
    7. Espínola-Arredondo, Ana & Muñoz-García, Félix, 2013. "When does environmental regulation facilitate entry-deterring practices," Journal of Environmental Economics and Management, Elsevier, vol. 65(1), pages 133-152.
    8. Kotaro Suzumura, 2020. "Reflections on Arrow’s research program of social choice theory," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 54(2), pages 219-235, March.
    9. Fabrizio Adriani & Giancarlo Marini & Pasquale Scaramozzino, 2009. "The Inflationary Consequences of a Currency Changeover on the Catering Sector: Evidence from the Michelin Red Guide," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 71(1), pages 111-133, February.
    10. Jose María Martín‐Martín & María S. Ostos‐Rey & Jose A. Salinas‐Fernández, 2019. "Why Regulation Is Needed in Emerging Markets in the Tourism Sector," American Journal of Economics and Sociology, Wiley Blackwell, vol. 78(1), pages 225-254, January.
    11. Pim Heijnen, 2013. "Informative advertising by an environmental group," Journal of Economics, Springer, vol. 108(3), pages 249-272, April.
    12. Hattori, Keisuke & Higashida, Keisaku, 2014. "Misleading advertising and minimum quality standards," Information Economics and Policy, Elsevier, vol. 28(C), pages 1-14.
    13. Matthew Plosser & João A. C. Santos, 2014. "Banks' incentives and the quality of internal risk models," Staff Reports 704, Federal Reserve Bank of New York.
    14. Ghadir Asadi & Mohammad H. Mostafavi-Dehzooei, 2022. "The Role of Learning in Adaptation to Technology: The Case of Groundwater Extraction," Sustainability, MDPI, vol. 14(12), pages 1-37, June.
    15. Ascensión Andina‐Díaz & Javier Campos & Juan‐Luis Jiménez & Jordi Perdiguero, 2024. "Strategic advertising in the aftermath of a corporate scandal," Manchester School, University of Manchester, vol. 92(6), pages 663-699, December.
    16. Pracejus, John W. & O'Guinn, Thomas C. & Olsen, G. Douglas, 2013. "When white space is more than “burning money”: Economic signaling meets visual commercial rhetoric," International Journal of Research in Marketing, Elsevier, vol. 30(3), pages 211-218.
    17. Pedro M. Gardete & Liang Guo, 2021. "Prepurchase Information Acquisition and Credible Advertising," Management Science, INFORMS, vol. 67(3), pages 1696-1717, March.
    18. Adriani, Fabrizio & Deidda, Luca G., 2009. "Price signaling and the strategic benefits of price rigidities," Games and Economic Behavior, Elsevier, vol. 67(2), pages 335-350, November.
    19. Ignatius J. Horstmann & Glenn M. MacDonald, 1994. "When Is Advertising a Signal of Product Quality?," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 3(3), pages 561-584, September.
    20. Dominiak, Adam & Lee, Dongwoo, 2023. "Testing rational hypotheses in signaling games," European Economic Review, Elsevier, vol. 160(C).
    21. Sibert, Anne, 2002. "Monetary policy with uncertain central bank preferences," European Economic Review, Elsevier, vol. 46(6), pages 1093-1109, June.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    JEL classification:

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

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:108343. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.