The Impact of Social Institutions on Social Consensus and Polarization
20 Pages Posted: 6 Aug 2012
Date Written: August 3, 2012
Representing social institutions in terms of a well-known model of information transmission and social learning, the paper shows the ability of institutions to facilitate or prevent social consensus. It also shown that the insularity of societal institutions has a profound impact on the time required to achieve consensus.
Keywords: social consensus, DeGroot model, social institutions, social polarization, reducible Markov chains
JEL Classification: C00, D70
Suggested Citation: Suggested Citation