Conformism and diversity under social learning

Venkatesh Bala; Sanjeev Goyal

doi:10.1007/PL00004094

Conformism and diversity under social learning

Venkatesh Bala, Sanjeev Goyal

Economics

Research output: Contribution to journal › Article › peer-review

Abstract

When there are competing technologies or products with unknown payoffs an important question is which technology will prevail and whether technologies with different payoffs can coexist in the long run. In this paper, we use a social learning model with local interactions to study this question. We show that the adoption of technologies as well as the prospects of conformism/diversity depend crucially on the nature of interaction between individuals and the heterogeneity of preferences in a society.

Original language	English (US)
Pages (from-to)	101-120
Number of pages	20
Journal	Economic Theory
Volume	17
Issue number	1
DOIs	https://doi.org/10.1007/PL00004094
State	Published - 2001

Keywords

Conformism/ diversity
Local interactions
Networks
Social learning

ASJC Scopus subject areas

Economics and Econometrics

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10.1007/PL00004094

Cite this

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Conformism and diversity under social learning

Abstract

Keywords

ASJC Scopus subject areas

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