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Preferences and social influence
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Fershtmani, Chaim and Segal, U. (Uzi) (2018) Preferences and social influence. American Economic Journal : Microeconomics , 10 (3). pp. 124-142. doi:10.1257/mic.20160190 ISSN 1945-7669.
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Official URL: https://doi.org/10.1257/mic.20160190
Abstract
Interaction between decision makers may affect their preferences. We consider a setup in which each individual is characterized by two sets of preferences: his unchanged core preferences and his behavioral preferences. Each individual has a social influence function that determines his behavioral preferences given his core preferences and the behavioral preferences of other individuals in his group. Decisions are made according to behavioral preferences. The paper considers different properties of these social influence functions and their effect on equilibrium behavior. We illustrate the applicability of our model by considering decision making by a committee that has a deliberation stage prior to voting
Item Type: | Journal Article | ||||||
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Subjects: | H Social Sciences > HB Economic Theory | ||||||
Divisions: | Faculty of Social Sciences > Warwick Business School > Behavioural Science Faculty of Social Sciences > Warwick Business School |
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Library of Congress Subject Headings (LCSH): | Economics -- Psychological aspects, Decision making -- Mathematical models | ||||||
Journal or Publication Title: | American Economic Journal : Microeconomics | ||||||
Publisher: | American Economic Association | ||||||
ISSN: | 1945-7669 | ||||||
Official Date: | August 2018 | ||||||
Dates: |
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Volume: | 10 | ||||||
Number: | 3 | ||||||
Page Range: | pp. 124-142 | ||||||
DOI: | 10.1257/mic.20160190 | ||||||
Status: | Peer Reviewed | ||||||
Publication Status: | Published | ||||||
Access rights to Published version: | Restricted or Subscription Access | ||||||
Date of first compliant deposit: | 11 September 2017 | ||||||
Date of first compliant Open Access: | 11 September 2017 | ||||||
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