Populism and polarization in social media without fake news : the vicious circle of biases, beliefs and network homophily
- We build a search-and-matching algorithm of network dynamics with decision-making under incomplete information, seeking to understand the determinants of the observed gradual downgrading of expert opinion on complicated issues and the decreasing trust in science. Even without fake news, combining the internet’s ease of forming networks with (a) individual biases, such as confirmation bias or assimilation bias, and (b) people’s tendency to align their actions with those of peers, produces populist and polarization network dynamics. Homophily leads to actions with more weight on biases and less weight on expert opinion, and such actions lead to more homophily.
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| Author: | Zaruhi Hakobyana, Christos Koulovatianos |
|---|---|
| URN: | urn:nbn:de:hebis:30:3-438719 |
| URL: | https://ssrn.com/abstract=3435817 |
| Parent Title (English): | Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 626 |
| Series (Serial Number): | CFS working paper series (626) |
| Publisher: | Center for Financial Studies |
| Place of publication: | Frankfurt, M. |
| Document Type: | Working Paper |
| Language: | English |
| Year of Completion: | 2019 |
| Year of first Publication: | 2019 |
| Publishing Institution: | Universitätsbibliothek Johann Christian Senckenberg |
| Release Date: | 2019/08/12 |
| Tag: | biased assimilation; conÖrmation bias; expert opinions; higher-order beliefs; internet; learning; network dynamics |
| Issue: | July 15, 2019 |
| Page Number: | 44 |
| HeBIS-PPN: | 45290014X |
| Institutes: | Wirtschaftswissenschaften / Wirtschaftswissenschaften |
| Wissenschaftliche Zentren und koordinierte Programme / Center for Financial Studies (CFS) | |
| Dewey Decimal Classification: | 3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft |
| Sammlungen: | Universitätspublikationen |
| Licence (German): |  Deutsches Urheberrecht |
