Non-Bayesian Social Learning from columbia university gsb Watch Video

⏲ Duration: 45 min 87 sec
✓ Published: 06-Oct-2011

Description:
Ali JadbabaienUniversity of PennsylvaniannHostnJohn BarasnnAbstractnWe develop a dynamic model of opinion formation in social networks when the information required for learning a payoff-relevant parameter may not be at the disposal of any single agent. Individuals engage in communication with their neighbors in order to learn from their experiences. However, instead of incorporating the views of their neighbors in a fully Bayesian manner, agents use a simple updating rule which linearly combine