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Networks Webinar - Peter Bossaerts (Cambridge)
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Abstract:
Professor Goyal launches ‘Networks: An Economics Approach’
“Networks are everywhere: the infrastructure that brings water into our homes, the social networks made up of our friends and families, the supply chains connecting cities, people, and goods,” says Professor Goyal, explaining that networks are central to an understanding of the production, consumption, and information that lie at the heart of economic activity.
Networks Webinar - Antonio Cabrales
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Abstract
Learning in Networks: An Experiment on Large Networks with Real-World Features
Subjects observe a private signal and make an initial guess; they then observe their neighbors’ guesses, update their own guess, and so forth. We study learning dynamics in three large-scale networks capturing features of real-world social networks: Erdös–Rényi, Stochastic Block (reflecting network homophily), and Royal Family (that accommodates both highly connected celebrities and local interactions). 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.