Viral Social Learning

McAdams, David; Song, Yangbo

doi:10.2139/ssrn.3299129

Cited by 2 publications

(2 citation statements)

References 28 publications

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“…Sadler (2020) puts these forces together and studies diffusion of a network good where agents become aware of it from their neighbors. Banerjee (1993) and McAdams and Song (2020) integrate awareness and social learning, allowing people to infer a good's quality from the time at which they become aware of it.…”

Section: Literaturementioning

confidence: 99%

Learning Dynamics in Social Networks

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Meyer-ter-Vehn

2021

ECTA

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This paper proposes a tractable model of Bayesian learning on large random networks where agents choose whether to adopt an innovation. We study the impact of the network structure on learning dynamics and product diffusion. In directed networks, all direct and indirect links contribute to agents' learning. In comparison, learning and welfare are lower in undirected networks and networks with cliques. In a rich class of networks, behavior is described by a small number of differential equations, making the model useful for empirical work.

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Section: Literaturementioning

confidence: 99%

Learning Dynamics in Social Networks

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Meyer-ter-Vehn

2021

ECTA

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“…Social learning models emerged in which the notion of infectious behavior played a central role, most notably those by Bikhchandani et al (1992) and Banerjee (1992) on information cascades/herding and by Banerjee (1993) on rumors. New work has developed these foundational early models in directions that draw even closer parallels with infectious disease epidemiology, for instance, by reframing social learning in an epidemic context (McAdams & Song 2020b) and by highlighting the possibility of mutation and selection during an information outbreak ( Jackson et al 2021).…”

Section: Introductionmentioning

confidence: 99%

The Blossoming of Economic Epidemiology

McAdams

2021

Annu. Rev. Econ.

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Infectious diseases, ideas, new products, and other infectants spread in epidemic fashion through social contact. The COVID-19 pandemic, the proliferation of fake news, and the rise of antimicrobial resistance have thrust economic epidemiology into the forefront of public policy debate and reinvigorated the field. Focusing for concreteness on disease-causing pathogens, this review provides a taxonomy of economic-epidemic models, emphasizing both the biology/immunology of the disease and the economics of the social context. An economic epidemic is one whose diffusion through the agent population is generated by agents’ endogenous behavior. I highlight properties of the equilibrium epidemic trajectory and discuss ways in which public health authorities can change the game for the better by ( a) imposing restrictions on agent activity to reduce the harm done during a viral outbreak and ( b) enabling diagnostic-informed interventions to slow or even reverse the rise of antibiotic resistance. Expected final online publication date for the Annual Review of Economics, Volume 13 is August 2021. Please see http://www.annualreviews.org/page/journal/pubdates for revised estimates.

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Viral Social Learning

Cited by 2 publications

References 28 publications

Learning Dynamics in Social Networks

Learning Dynamics in Social Networks

The Blossoming of Economic Epidemiology

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