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• W2224749107 abstract "I study a game in which individuals gather costly information about an innovation and share their knowledge through social ties. A person's incentive to experiment varies with her position in the network, and strategic interactions lead to counterintuitive behavior among the most connected players. The structure of the social network and the distribution of initial beliefs jointly determine long-run adoption behavior in the population. Networks that share information efficiently converge on a decision more quickly but are more prone to errors. Consequently, dense or centralized networks can have more volatile outcomes in the long run, and efforts to seed adoption in the network should focus on individuals who are isolated from one another. I argue that anti-seeding, preventing key individuals from experimenting early in the learning process, can be an effective intervention to encourage adoption because the population as a whole may gather more information." @default.
• W2224749107 created "2016-06-24" @default.
• W2224749107 creator A5049984442 @default.
• W2224749107 date "2017-01-01" @default.
• W2224749107 modified "2023-09-27" @default.
• W2224749107 title "Innovation Adoption and Collective Experimentation" @default.
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• W2224749107 doi "https://doi.org/10.2139/ssrn.2497798" @default.
• W2224749107 hasPublicationYear "2017" @default.
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