Multidimensional Observational Learning in Social Networks: Theory and Experimental Evidence
Published Online:24 Mar 2021https://doi.org/10.1287/isre.2021.0993
References
- (2011) Bayesian learning in social networks. Rev. Econom. Stud. 78(4):1201–1236.Crossref, Google Scholar
- (2018) Effects of online recommendations on consumers’ willingness to pay. Inform. Systems Res. 29(1):84–102.Link, Google Scholar
- (2019) Word of mouth, observed adoptions, and anime-watching decisions: The role of the personal vs. the community network.Marketing Sci. 38(4):567–583.Link, Google Scholar
- (2011) Creating social contagion through viral product design: A randomized trial of peer influence in networks. Management Sci. 57(9):1623–1639.Link, Google Scholar
- (2014) Tie strength, embeddedness, and social influence: A large-scale networked experiment. Management Sci. 60(6):1352–1370.Link, Google Scholar
- (2009) Distinguishing influence-based contagion from homophily-driven diffusion in dynamic networks. Proc. Natl. Acad. Sci. USA. 106(51):21544–21549.Crossref, Google Scholar
- (2017) How e-WOM and local competition drive local retailers’ decisions about daily deal offerings. Decision Support Systems 101:82–94.Crossref, Google Scholar
- (2012) The role of social networks in information diffusion. Mille A, Gandon F, Misselis J, eds. Proc. 21st Internat. Conf. World Wide Web (Association for Computing Machinery, New York, NY), 519–528.Google Scholar
- (1992) A simple model of herd behavior. Quart. J. Econom. 107(3):797–817.Crossref, Google Scholar
- (2019) Nurturing online communities: An empirical investigation. MIS Quart. 43(2):425–452.Crossref, Google Scholar
- (2010) Vertically differentiated simultaneous Vickrey auctions: Theory and experimental evidence. Management Sci. 56(7):1074–1092.Link, Google Scholar
- (2017a) Repeated interactions vs. social ties: Quantifying the economic value of trust, forgiveness, and reputation using a field experiment. MIS Quart. 41(3):841–866.Crossref, Google Scholar
- (2017b) Trust and the strength of ties in online social networks: An exploratory field experiment. MIS Quart. 41(1):115–130.Crossref, Google Scholar
- (2014) Car mechanics in the laboratory—Investigating the behavior of real experts on experimental markets for credence goods. J. Econom. Behav. Organ. 108:166–173.Google Scholar
- (2006) The case for objective Bayesian analysis. Bayesian Anal. 1(3):385–402.Crossref, Google Scholar
- (1992) A theory of fads, fashion, custom, and cultural change as informational cascades. J. Political Econom. 100(5):992–1026.Crossref, Google Scholar
- (2009) Observational learning: Evidence from a randomized natural field experiment. Amer. Econom. Rev. 99(3):864–882.Crossref, Google Scholar
- (2018) When discounts hurt sales: The case of daily-deal markets. Inform. Systems Res. 29(3):567–591.Link, Google Scholar
- (2015) Generic aversion and observational learning in the over-the-counter drug market. Working paper, Montana State University, Bozeman, MT.Google Scholar
- (2004) Distinguishing informational cascades from herd behavior in the laboratory. Amer. Econom. Rev. 94(3):484–498.Crossref, Google Scholar
- (2005) Third-party product review and firm marketing strategy. Marketing Sci. 24(2):218–240.Link, Google Scholar
- (2008) Online consumer review: Word-of-mouth as a new element of marketing communication mix. Management Sci. 54(3):477–491.Link, Google Scholar
- (2011) Online social interactions: A natural experiment on word of mouth vs. observational learning. J. Marketing Res. 48(2):238–254.Crossref, Google Scholar
- (2020) Can “gold medal” online sellers earn gold? The impact of reputation badges on sales. J. Management Inform. Systems 37(4):1099–1127.Crossref, Google Scholar
- (2020) Vertical integration and zero-rating interplay: An economic analysis of ad-supported and ad-free digital content. J. Management Inform. Systems 37(4):988–1014.Crossref, Google Scholar
- (2005) Herd behavior in a laboratory financial market. Amer. Econom. Rev. 95(5):1427–1443.Crossref, Google Scholar
- (2009) An economic model of friendship: Homophily, minorities, and segregation. Econometrica 77(4):1003–1045.Crossref, Google Scholar
- (2020) Conspicuous by its absence: Diagnostic expert testing under uncertainty. Marketing Sci. 39(3):540–563.Link, Google Scholar
- (1973) Free competition and the optimal amount of fraud. J. Law Econom. 16(1):67–88.Crossref, Google Scholar
- (2012) Research note—Music blogging, online sampling, and the long tail. Inform. Systems Res. 23(3-part-2):1056–1067.Google Scholar
- (2017) Popularity or proximity: Characterizing the nature of social influence in an online music community. Inform. Systems Res. 28(1):117–136.Link, Google Scholar
- (2009) Informational cascades and software adoption on the Internet: An empirical investigation. MIS Quart. 33(1):23–48.Crossref, Google Scholar
- (2011) The economics of credence goods: An experiment on the role of liability, verifiability, reputation, and competition. Amer. Econom. Rev. 101(2):526–555.Crossref, Google Scholar
- (1997) Credence goods and fraudulent experts. RAND J. Econom. 28(1):107–119.Crossref, Google Scholar
- (1991) Game Theory (MIT Press, Cambridge, MA).Google Scholar
- (2018) Consumer search with observational learning. RAND J. Econom. 49(1):224–253.Crossref, Google Scholar
- (2017) Social networks and labor markets: How strong ties relate to job finding on Facebook’s social network. J. Labor Econom. 35(2):485–518.Crossref, Google Scholar
- (2007) Self-correcting information cascades. Rev. Econom. Stud. 74(3):733–762.Crossref, Google Scholar
- (1973) The strength of weak ties. Amer. J. Sociol. 78(6):1360–1380.Crossref, Google Scholar
- (2014) The allure of homophily in social media: Evidence from investor responses on virtual communities. Inform. Systems Res. 25(3):604–617.Link, Google Scholar
- (2011) Aggregate information cascades. Games Econom. Behav. 73(1):167–185.Crossref, Google Scholar
- (2018) Economic experiments in information systems. MIS Quart. 42(2):595–606.Crossref, Google Scholar
- (2012) Observational learning and demand for search goods. Amer. Econom. J. Microeconom. 4(1):1–31.Crossref, Google Scholar
- (2017) Social network integration and user content generation: Evidence from natural experiments. MIS Quart. 41(4):1035–1058.Crossref, Google Scholar
- (2018) Platform sponsor investments and user contributions in knowledge communities: The role of knowledge seeding. MIS Quart. 42(1):213–240.Crossref, Google Scholar
- (1995) Citizens, Politics and Social Communication: Information and Influence in an Election Campaign (Cambridge University Press, Cambridge, United Kingdom).Crossref, Google Scholar
- (1978) Interpersonal attraction and relationships. Annual Rev. Psych. 29(1):115–156.Crossref, Google Scholar
- (1968) Prior probabilities. IEEE Trans. Systems Sci. Cybernetics 4(3):227–241.Crossref, Google Scholar
- (2011a) Social learning and dynamic pricing of durable goods. Marketing Sci. 30(5):851–865.Link, Google Scholar
- (2011b) Exogenous learning, seller-induced learning, and marketing of durable goods. Management Sci. 57(10):1788–1801.Link, Google Scholar
- (2015) The external validity of laboratory experiments: The misleading emphasis on quantitative effects. Fréchette GR, Schotter A, eds. Handbook of Experimental Economic Methodology, vol. 18 (Oxford University Press, Oxford, United Kingdom), 392–405.Google Scholar
- (2019) When a doctor knows, it shows: An empirical analysis of doctors’ responses in a Q&A forum of an online healthcare portal. Inform. Systems Res. 30(3):872–891.Link, Google Scholar
- (2016) Pinterest is blowing away Facebook, Instagram, and Snapchat in one important area. Business Insider (June 9), https://www.businessinsider.com/pinterest-is-the-top-social-network-among-online-shoppers-2016-6.Google Scholar
- (2018) Exit, voice, and response in digital platforms: An empirical investigation of online management response strategies. Inform. Systems Res. 29(4):849–870.Link, Google Scholar
- (2015) Do I follow my friends or the crowd? Information cascades in online movie ratings. Management Sci. 61(9):2241–2258.Link, Google Scholar
- (2016) A friend like me: Modeling network formation in a location-based social network. J. Management Inform. Systems 33(4):1008–1033.Crossref, Google Scholar
- (2013) Measuring effects of observational learning and social-network word-of-mouth (WOM) on the sales of daily-deal vouchers. Proc. 46th Hawaii Internat. Conf. System Sci. (IEEE, Piscataway, NJ), 2908–2917.Google Scholar
- (2018) Herding and social media word-of-mouth: Evidence from Groupon. MIS Quart. 42(4):1331–1351.Crossref, Google Scholar
- (2020) Optimal pricing model of digital music: Subscription, ownership or mixed? Production Oper. Management 29(3):688–704.Crossref, Google Scholar
- (2017) When online reviews meet sales volume information: Is more or accurate information always better? Inform. Systems Res. 28(4):723–743.Link, Google Scholar
- (2007) Optimal design of consumer contests. J. Marketing 71(4):140–155.Crossref, Google Scholar
- (2003) Culture and competition: Homophily and distancing explanations for cultural niches. Amer. Sociol. Rev. 68(3):319–345.Crossref, Google Scholar
- (1987) Core discussion networks of Americans. Amer. Sociol. Rev. 52(1):122–131.Crossref, Google Scholar
- (2001) Birds of a feather: Homophily in social networks. Annual Rev. Sociol. 27(1):415–444.Crossref, Google Scholar
- (2011) Social learning and peer effects in consumption: Evidence from movie sales. Rev. Econom. Stud. 78(1):356–393.Crossref, Google Scholar
- (2001) Brand community. J. Consumer Res. 27(4):412–432.Crossref, Google Scholar
- (1970) Information and consumer behavior. J. Political Econom. 78(2):311–329.Crossref, Google Scholar
- (2016) An empirical study of observational learning. RAND J. Econom. 47(2):394–432.Crossref, Google Scholar
- (1996) Meanings for closeness and intimacy in friendship. J. Soc. Personal Relationships 13(1):85–107.Crossref, Google Scholar
- (2017) Pricing strategies under behavioral observational learning in social networks. Production Oper. Management 26(7):1249–1267.Crossref, Google Scholar
- (2017) Hidden profiles in corporate prediction markets: The impact of public information precision and social interactions. MIS Quart. 41(4):1249–1273.Crossref, Google Scholar
- (2014) Effects of social networks on prediction markets: Examination in a controlled experiment. J. Management Inform. Systems 30(4):235–268.Crossref, Google Scholar
- (2019) Optimal auction design for Wi-Fi procurement. Inform. Systems Res. 30(1):1–14.Link, Google Scholar
- (2018) Learning from your friends’ check-ins: An empirical study of location-based social networks. Inform. Systems Res. 29(4):1044–1061.Link, Google Scholar
- (2012) Reputation and uncertainty in online markets: An experimental study. Inform. Syst. Res. 23(2):436–452.Link, Google Scholar
- (2017) Study: Instagram influences almost 75% of user purchase decisions. Retail Dive (August 23), https://www.retaildive.com/news/study-instagram-influences-almost-75-of-user-purchase-decisions/503336/.Google Scholar
- (1998) Information Rules: A Strategic Guide to the Network Economy (Harvard Business Press, Boston).Google Scholar
- (2013) Network structure and observational learning: Evidence from a location-based social network. J. Management Inform. Systems 30(2):185–212.Crossref, Google Scholar
- (1988) Friendship in school: Gender and racial homophily. Sociol. Ed. 61(4):227–239.Crossref, Google Scholar
- (2000) Pathological outcomes of observational learning. Econometrica 68(2):371–398.Crossref, Google Scholar
- (2019a) Mobile messaging for offline group formation in prosocial activities: A large field experiment. Management Sci. 65(6):2717–2736.Link, Google Scholar
- (2019b) U-shaped conformity in online social networks. Marketing Sci. 38(3):461–480.Link, Google Scholar
- (2012) Social networks and the diffusion of user-generated content: Evidence from YouTube. Inform. Systems Res. 23(1):23–41.Link, Google Scholar
- (2016) Influentials, imitables, or susceptibles? Virality and word-of-mouth conversations in online social networks. J. Management Inform. Systems 33(1):139–170.Crossref, Google Scholar
- (2016) Twitter says users now trust influencers nearly as much as their friends. Adweek (May 10), https://www.adweek.com/performance-marketing/twitter-says-users-now-trust-influencers-nearly-much-their-friends-171367/.Google Scholar
- (2006) Dynamic competition with experience goods. J. Econom. Management Strategy 15(1):37–66.Crossref, Google Scholar
- (2018) Socially nudged: A quasi-experimental study of friends’ social influence in online product ratings. Inform. Systems Res. 29(3):641–655.Link, Google Scholar
- (2010) Crowdfunding the next hit: Microfunding online experience goods. Workshop Comput. Soc. Sci Wisdom Crowds, Conf. Neural Information Processing Systems (NIPS) 2010, 1–5.Google Scholar
- (1992) Sequential sales, learning, and cascades. J. Finance 47(2):695–732.Google Scholar
- (2002) Econometric Analysis of Cross Section and Panel Data (MIT Press, Cambridge, MA).Google Scholar
- (2018) Product engagement and identity signaling: The role of likes in social commerce for fashion products. Inform. Management 56(2):143–154.Crossref, Google Scholar
- (2014) Anxious or angry? Effects of discrete emotions on the perceived helpfulness of online reviews. MIS Quart. 38(2):539–560.Crossref, Google Scholar
- (2010) The sound of silence: Observational learning in the US kidney market. Marketing Sci. 29(2):315–335.Link, Google Scholar
- (2012) Rational herding in microloan markets. Management Sci. 58(5):892–912.Link, Google Scholar
- (2015) Social learning in networks of friends vs. strangers. Marketing Sci. 34(4):573–589.Link, Google Scholar

