Social learning in economics

Annual Review of Economics

Volumn 6, Issue , 2014, Pages 827-847

  Mobius, Markus ^a,b,c   Rosenblat, Tanya ^b  

^a MICROSOFT RESEARCH   (United Kingdom)

^b UNIVERSITY OF MICHIGAN   (United States)

^c NATIONAL BUREAU OF ECONOMIC RESEARCH   (United States)

Author keywords

herding; na ve learning; observational learning; rational learning; streams model

Indexed keywords

EID: 84905689279     PISSN: 19411383     EISSN: 19411391     Source Type: Journal    
DOI: 10.1146/annurev-economics-120213-012609     Document Type: Review

References (67)

1. Acemoglu D, Bimpikis K, Ozdaglar A. 2014. Dynamics of information exchange in endogenous social networks. Theor. Econ. 9:41-97
2. Acemoglu D, Dahleh MA, Lobel I, Ozdaglar A. 2011. Bayesian learning in social networks. Rev. Econ. Stud. 78:1201-36
3. Alatas V, Banerjee A, Chandrasekhar AG, Hanna R, Olken BA. 2012. Network structure and the aggregation of information: theory and evidence from Indonesia. NBER Work. Pap. 18351
4. Aral S, Muchnik L, Sundararajan A. 2009. Distinguishing influence-based contagion from homophily-driven diffusion in dynamic networks. Proc. Natl. Acad. Sci. USA 106:21544-49
5. Aral S, Walker D. 2012. Identifying influential and susceptiblemembers of social networks. Science 337:337-41
6. Bakshy E, Hofman JM, Mason WA, Watts DJ. 2011. Everyones an influencer: quantifying influence on Twitter. Proc. 4th ACM Int. Conf. Web Search Data Mining, pp. 65-74. New York: Assoc. Comput. Machin.
7. Bakshy E, Rosenn I, Marlow C, Adamic L. 2012. The role of social networks in information diffusion. Proc. 21st Int. Conf. World Wide Web, pp. 519-28. New York: Assoc. Comput. Machin.
8. Bala V, Goyal S. 1998. Learning from neighbors. Rev. Econ. Stud. 65:595-621
9. Bandiera O, Rasul I. 2006. Social networks and technology adoption in northern Mozambique. Econ. J. 116:869-902
10. Banerjee A. 1992. A simple model of herd behavior. Q. J. Econ. 107:797-817
11. Banerjee A, Chandrasekhar A, Duflo E, Jackson MO. 2013. The diffusion of microfinance. Science 341:1236498
12. Bayer P, Ross S, Topa G. 2008. Place of work and place of residence: informal hiring networks and labor market outcomes. J. Polit. Econ. 116:1150-96
13. Beaman LA. 2012. Social networks and the dynamics of labour market outcomes: evidence from refugees resettled in the US. Rev. Econ. Stud. 79:128-61
14. Beaman L, Magruder J. 2012. Who gets the job referral? Evidence from a social networks experiment. Am. Econ. Rev. 102:3574-93
15. Bikhchandani S, Hirshleifer D, Welch I. 1992. A theory of fads, fashion, custom, and cultural change as information cascades. J. Polit. Econ. 100:992-1026
16. Burke MA, Fournier GM, Prasad K. 2007. The diffusion of a medical innovation: Is success in the stars? South. Econ. J. 73:588-603
17. Cai J, de Janvry A, Sadoulet E. 2012. Social networks and the decision to insure: evidence from randomized experiments in China. Work. Pap., Univ. Mich., Ann Arbor
18. Calvó-Armengol A, Jackson M. 2004. The effects of social networks on employment and inequality. Am. Econ. Rev. 94:426-54
19. Calvó-Armengol A, Patacchini E, Zenou Y. 2009. Peer effects and social networks in education. Rev. Econ. Stud. 76:1239-67
20. Celen B, Kariv S. 2004. Distinguishing informational cascades from herd behavior in the laboratory. Am. Econ. Rev. 94:484-97
21. Chandrasekhar AG, Larreguy H, Xandri JP. 2012. Testing models of social learning on networks: evidence from a framed field experiment. Work. Pap., Mass. Inst. Technol., Cambridge, MA
22. Conley TG, Udry CR. 2010. Learning about a new technology: pineapple in Ghana. Am. Econ. Rev. 100:1-28
23. Damm AP. 2009. Ethnic enclaves and immigrant labor market outcomes: quasi-experimental evidence. J. Labor Econ. 27:281-314
24. DeMarzo PM, Vayanos D, Zwiebel J. 2003. Persuasion bias, social influence and unidimensional opinions. Q. J. Econ. 118:909-68
25. Duflo E, Saez E. 2002. Participation and investment decisions in a retirement plan: the influence of colleagues choices. J. Public Econ. 85:121-48
26. Duflo E, Saez E. 2003. The role of information and social interactions in retirement plan decisions: evidence from a randomized experiment. Q. J. Econ. 118:815-42
27. Dupas P. 2012. Short-run subsidies and long-run adoption of new health products: evidence from a field experiment. Work. Pap., Stanford Univ., Stanford, CA
28. Foster A, Rosenzweig M. 1995. Learning by doing and learning from others: human capital and technical change in agriculture. J. Polit. Econ. 103:1176-209
29. Galeotti A, GhiglinoaC, Squintani F. 2014. Strategic information transmission networks. J. Econ. Theory 148:1751-69
30. Glaeser EL, Sacerdote B, Scheinkman JA. 1996. Crime and social interactions. Q. J. Econ. 111:507-48
31. Goel D, Lang K. 2012. Social ties and the job search of recent immigrants. Work. Pap., Boston Univ.
32. Golub B, Jackson MO. 2010. Naïve learning in social networks and the wisdom of crowds. Am. Econ. J. Microecon. 2(1):112-49
33. Golub B, Jackson M. 2012. How homophily affects the speed of learning and best-response dynamics. Q. J. Econ. 127:1287-338
34. Goyal A, Bonchi F, Lakshmanan LVS. 2010. Learning influence probabilities in social networks. Proc. 3rd ACM Int. Conf. Web Search Data Mining, pp. 241-50. New York: Assoc. Comput. Machin.
35. Granovetter M. 1974. Getting a Job. Cambridge, MA: Harvard Univ. Press
36. Gruhl D, Guha R, Liben-Nowell D, Tomkins A. 2004. Information diffusion through blogspace. Proc. 13th Int. Conf. World Wide Web, pp. 491-501. New York: Assoc. Comput. Machin.
37. Harrison GW, List JA. 2004. Field experiments. J. Econ. Lit. 42:1009-55
38. Henkel J, Maurer SM. 2010. Network effects in biology RandD. Am. Econ. Rev. 100:159-64
39. Jovanovic B, Nyarko Y. 1996. Learning by doing and the choice of technology. Econometrica 64:1299-310
40. Karlan D, Mobius M, Rosenblat T, Szeidl A. 2009. Trust and social collateral. Q. J. Econ. 124:1307-61
41. Kelly M, Ó. Gráda C. 2000. Market contagion: evidence from the panics of 1854 and 1857. Am. Econ. Rev. 90:1110-24
42. Kremer M, Miguel T. 2007. The illusion of sustainability. Q. J. Econ. 122:1007-65
43. Lazarsfeld P, Berelson B, Gaudet H. 1944. Peoples Choice: How the Voter Makes Up His Mind in a Presidential Campaign. New York: Columbia Univ. Press. 3rd ed.
44. Lerman K, Ghosh R. 2010. Information contagion: an empirical study of the spread of news on Digg and Twitter social networks. Proc. 4th Int. AAAI Conf. Weblogs Social Media, pp. 90-97. Palo Alto, CA: Assoc. Adv. Artif. Intell.
45. Liggett TM. 1985. Interacting Particle Systems. New York: Springer
46. Manski C. 1993. Identification of endogenous social effects: the reflection problem. Rev. Econ. Stud. 60:531-42
47. Marmaros D, Sacerdote B. 2006. How do friendships form? Q. J. Econ. 121:79-119
48. Massey C, Wu G. 2005. Detecting regime shifts: the causes of under-and overreaction. Manag. Sci. 51:932-47
49. Miller G, Mobarak AM. 2011. Intra-household externalities and low demand for a new technology: experimental evidence on improved cookstoves. Work. Pap., Stanford Univ., Stanford, CA
50. Mobius M, Niederle M, Niehaus P, Rosenblat T. 2013a. Managing self-confidence: theory and experimental evidence. Work. Pap., Stanford Univ., Stanford, CA
51. Mobius M, Szeidl A, Phan T. 2013b. Treasure hunt. Work. Pap., Cent. Eur. Univ., Budapest
52. Moretti E. 2011. Social learning and peer effects in consumption: evidence from movie sales. Rev. Econ. Stud. 78:356-93
53. Mossel E, Sly A, Tamuz O. 2014. Asymptotic learning on Bayesian social networks. Probab. Theory Relat. Fields 158:127-57
54. Munshi K. 2003. Networks in the modern economy: Mexican migrants in the US labor market. Q. J. Econ. 118:549-99
55. Munshi K. 2004. Social learning in a heterogeneous population: technology diffusion in the Indian Green Revolution. J. Dev. Econ. 73:185-215
56. Munshi K, Myaux J. 2006. Social norms and the fertility transition. J. Dev. Econ. 80:1-38
57. Niehaus P. 2011. Filtered social learning. J. Polit. Econ. 119:686-720
58. Oster E, Thornton R. 2012. Determinants of technology adoption: peer effects in menstrual cup take-up. J. Eur. Econ. Assoc. 10:1263-93
59. Rao N, Mobius MM, Rosenblat TS. 2007. Social networks and vaccination decisions.Work. Pap. 0712, Fed. Reserve Bank Boston
60. Sacerdote B. 2001. Peer effects with random assignment: results for Dartmouth roommates. Q. J. Econ. 116:681-704
61. Smith L, Sorenson P. 2000. Pathological outcomes of observational learning. Econometrica 68:371-98
62. Sorensen AT. 2006. Social learning and health plan choice. Rand J. Econ. 37:929-45
63. Sun E, Rosenn I, Marlow C, Lento TM. 2009. Gesundheit! Modeling contagion through Facebook news feed. Proc. 3rd Int. AAAI Conf. Weblogs Social Media, pp. 146-53. Palo Alto, CA: Assoc. Adv. Artif. Intell.
64. Sunstein CR. 2009. Republic.com 2.0. Princeton, NJ: Princeton Univ. Press
65. Surowiecki J. 2005. The Wisdom of Crowds: Why the Many Are Smarter than the Few and How Collective Wisdom Shapes Business, Economies, Societies and Nations. New York: Doubleday
66. Topa G. 2001. Social interactions, local spillovers and unemployment. Rev. Econ. Stud. 68:261-95
67. Weizsacker G. 2010. Do we follow others when we should? A simple test of rational expectations. Am. Econ. Rev. 100:2340-60