Friday2Nov 2018

ESI Lecture Series

Simon Board, PhD - "An Inspection Model of Learning in Networks"

Friday, November 2, 2018 3:00 p.m. PST
2018-11-02 15:00 2018-11-02 16:00 America/Los_Angeles ESI Lecture Series Go to event listing for more details: https://events.chapman.edu/56030 WH 116 Wilkinson Hall 116 - ESI Classroom Cyndi Dumas dumas@chapman.edu

Free to attend

WH 116

Wilkinson Hall 116 - ESI Classroom

Staff, Faculty, and Students

are invited to attend.

Abstract: We propose a tractable model of social learning on directed networks. Before adopting a new innovation (e.g. electric cars), agents see the adoption decisions of their neighbors, and then choose whether to inspect the innovation to assess its quality. We characterize the learning dynamics of the unique equilibrium via a system of ODEs, shedding light on how learning depends on the network structure. In tree networks, all direct and indirect links contribute to an agent’s learning; we show that one direct link is more valuable than an infinite chain of indirect links. But not all links are beneficial: An agent learning decreases when her neighbors are also learning from her, and when her neighbors are linked to each other.

Bio: Simon Board is a Professor of Economics at UCLA. He is a microeconomic theorist, with interests in contract theory, industrial organization, and labor economics. His recent research includes the design of dynamic pricing algorithms, and the role of reputation in incentivizing investment. He has published in the American Economic Review, Econometrica, the Journal of Political Economy and the Review of Economic Studies. He is Co-Editor at Theoretical Economics and Associate Editor at the American Economic Review.

 

You can contact the event organizer, Cyndi Dumas at dumas@chapman.edu.

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