Behavioral Influence

• 成果类型: Article
• 署名作者: Chambers, Christopher P.; Cuhadaroglu, Tugce; Masatlioglu, Yusufcan
• 署名单位: Georgetown University; University of St Andrews; University System of Maryland; University of Maryland College Park
• 刊物名称: JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION
• ISSN/ISSBN: 1542-4766
• DOI: 10.1093/jeea/jvac028
• 发表日期: 2023
• 页码: 135-166
• 关键词: social interactions; testable implications; discrete-choice; identification; models; networks; inference; peers

摘要

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.