Larson, N.; (2003) Selective observation in social learning. (ELSE Working Papers 75). ESRC Centre for Economic Learning and Social Evolution: London, UK.

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Abstract

Social learning is studied when heterogeneous agents can select whom to observe. An agent learns from the average action in her neighborhood. She may face a tradeoff between joining a large neighborhood where most agents have different preferences than she does or a small neighborhood where agents share her preferences. Typically, her choice will not be socially optimal, and the equilibrium outcome may involve inefficient pooling.

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