Conformism and Diversity Under Social Learning
Posted: 26 Jul 2001
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.
Keywords and Phrases: Social learning, Local interactions, Conformism/ diversity, Networks.
JEL Classification: D83, L15, O30, Q16, R10
Suggested Citation: Suggested Citation
Bala, Vankatesh and Goyal, Sanjeev, Conformism and Diversity Under Social Learning. Available at SSRN: https://ssrn.com/abstract=250651
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