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Faculty of Economics

CWPE & JIWP Cover

Choi, S., Goyal, S., Moisan, F., To, Y. Y. T.

Learning in Canonical Networks

CWPE2235

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.

Keywords: consensus, experimental social science, social learning, social networks

JEL Codes: C91 C92 D83 D85

Author links: Sanjeev Goyal  Yu Yang Tony To  

PDF: https://www.econ.cam.ac.uk/research-files/repec/cam/pdf/cwpe2235.pdf

Open Access Link: https://doi.org/10.17863/CAM.86220