Finite languages, persuasion bias, and opinion fluctuations

Förster M (2018)
Journal of Economic Behavior and Organization 149: 46-57.

Zeitschriftenaufsatz | Veröffentlicht | Englisch
 
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Abstract / Bemerkung
We propose a boundedly rational model of opinion formation in which agents are subject to persuasion bias and communicate via finite languages. Agents are organized in a social network and repeatedly update their beliefs based on coarse messages about their neighbors’ beliefs. We show that agents do not reach a consensus; instead, their beliefs keep fluctuating forever if different languages are present in their neighborhoods. In particular, we recover the classical result that under persuasion bias agents typically reach a consensus if there is a unique language in society, while small perturbations lead to fluctuations. Our approach provides and formalizes a possible mechanism to account for theories according to which storytelling may generate excessive confidence swings.
Stichworte
Bounded rationality; Finite languages; Opinion fluctuations; Persistent disagreement; Persuasion bias; Social networks
Erscheinungsjahr
2018
Zeitschriftentitel
Journal of Economic Behavior and Organization
Band
149
Seite(n)
46-57
ISSN
0167-2681
Page URI
https://pub.uni-bielefeld.de/record/2941863

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Förster M. Finite languages, persuasion bias, and opinion fluctuations. Journal of Economic Behavior and Organization. 2018;149:46-57.
Förster, M. (2018). Finite languages, persuasion bias, and opinion fluctuations. Journal of Economic Behavior and Organization, 149, 46-57. doi:10.1016/j.jebo.2018.03.001
Förster, M. (2018). Finite languages, persuasion bias, and opinion fluctuations. Journal of Economic Behavior and Organization 149, 46-57.
Förster, M., 2018. Finite languages, persuasion bias, and opinion fluctuations. Journal of Economic Behavior and Organization, 149, p 46-57.
M. Förster, “Finite languages, persuasion bias, and opinion fluctuations”, Journal of Economic Behavior and Organization, vol. 149, 2018, pp. 46-57.
Förster, M.: Finite languages, persuasion bias, and opinion fluctuations. Journal of Economic Behavior and Organization. 149, 46-57 (2018).
Förster, Manuel. “Finite languages, persuasion bias, and opinion fluctuations”. Journal of Economic Behavior and Organization 149 (2018): 46-57.
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