Refine my results

Opinion dynamics and wisdom under conformity

Buechel, Berno ; Hellmann, Tim ; Kloessner, Stefan

In: Journal of economic dynamics and control, 2015, vol. 52, p. 240-257

We study a dynamic model of opinion formation in social networks. In our model, boundedly rational agents update opinions by averaging over their neighbors’ expressed opinions, but may misrepresent their own opinion by conforming or counter-conforming with their neighbors. We show that an agent׳s social influence on the long-run group opinion is increasing in network centrality and...