Influential Opinion Leaders

21 Pages Posted: 10 Dec 2014

See all articles by Antoine Loeper

Antoine Loeper

Universidad Carlos III de Madrid

Jakub Steiner

Charles University in Prague - CERGE-EI (Center for Economic Research and Graduate Education - Economics Institute)

Colin Stewart

University of Toronto - Department of Economics

Multiple version iconThere are 2 versions of this paper

Date Written: December 2014

Abstract

We present a two‐stage coordination game in which early choices of experts with special interests are observed by followers who move in the second stage. We show that the equilibrium outcome is biased towards the experts' interests even though followers know the distribution of expert interests. Expert influence is fully decentralised in the sense that each individual expert has a negligible impact. The bias in favour of experts results from a social learning effect that is multiplied through a coordination motive. We apply our results to the onset of social movements and to the diffusion of products with network externalities.

Suggested Citation

Loeper, Antoine and Steiner, Jakub and Stewart, Colin, Influential Opinion Leaders (December 2014). The Economic Journal, Vol. 124, Issue 581, pp. 1147-1167, 2014. Available at SSRN: https://ssrn.com/abstract=2536174 or http://dx.doi.org/10.1111/ecoj.12100

Antoine Loeper (Contact Author)

Universidad Carlos III de Madrid ( email )

CL. de Madrid 126
Madrid, Madrid 28903
Spain

Jakub Steiner

Charles University in Prague - CERGE-EI (Center for Economic Research and Graduate Education - Economics Institute) ( email )

P.O. Box 882
7 Politickych veznu
Prague 1, 111 21
Czech Republic
+420 605 286 947 (Phone)

HOME PAGE: http://www.cerge-ei.cz

Colin Stewart

University of Toronto - Department of Economics ( email )

150 St. George Street
Toronto, Ontario M5S 3G7
Canada

Register to save articles to
your library

Register

Paper statistics

Downloads
0
Abstract Views
146
PlumX Metrics