Markets, social networks, endogenous preferences, and opinion leaders

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F13%3A00074743" target="_blank" >RIV/00216224:14560/13:00074743 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Markets, social networks, endogenous preferences, and opinion leaders
Original language description
This paper studies the impact of opinion leaders (?stars?) and their fans on equilibrium market prices within the Bell?s model (JEBO 2002). The simulation shows that 1) the model may not converge when the opinion leader consumes the good that is extremely scarce---it can create infinite cycles in her fans? preferences; 2) the preferences may not be completely polarized in the same situation---the agents with non-polarized preferences prevent the cycles; 3) while the agents in the Bell?s model consume only the more abundant good when the other good is extremely scarce, the presence of the opinion leader eliminates this when she consumes the scarce good, and 4) the presence of the opinion leader and her fans can sometimes surprisingly lower the price ofthe good that the opinion leader consumes.
Czech name
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Czech description
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Publication year
2013
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Proceedings of the 31st International Conference Mathematical Methods in Economics 2013
ISBN
9788087035764
ISSN
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e-ISSN
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Number of pages
6
Pages from-to
512-517
Publisher name
College of Polytechnics Jihlava
Place of publication
Jihlava
Event location
Jihlava
Event date
Jan 1, 2013
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
000335578000087

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