Behavioral Influence

doi:10.1093/jeea/jvac028

Behavioral Influence

2022-05-30

2

OA

AI

C

Christopher P. Chambers *

DOI：10.1093/jeea/jvac028

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In the context of stochastic choice, we introduce an individual decision model that admits a cardinal notion of peer influence. The model presumes that individual choice is not only determined by idiosyncratic evaluations of alternatives but also by the influence of the observed behavior of others. We establish that the equilibrium defined by the model is unique, stable, and falsifiable. Moreover, the underlying preferences and influence parameters as well as the structure of the underlying network are uniquely identified from, arguably, limited data. The baseline model includes two individuals with conformity motives. Generalizations to multi-individual settings and negative interactions are also introduced and analyzed.

Keyword:

SOCIAL INTERACTIONS

TESTABLE IMPLICATIONS

DISCRETE-CHOICE

IDENTIFICATION

MODELS

NETWORKS

INFERENCE

PEERS

Behavioral Influence

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