Economics, Econometrics and Finance
4 years ago

Social interactions shape decision-making, altering preferences and group dynamics significantly.

RePEc: Research Papers in Economics
Preferences and Social Influence
Chaim Fershtman, Uzi Segal

Paper Summary

Related papers

Decision Sciences
3 years ago

New research challenges traditional views on rational decision-making in economics.

Behavioral Economics
1 view
Decision Sciences
4 years ago

Study finds choices do not alter preferences, challenging previous assumptions.

Behavioral Economics
Discrete Choice
Economic Behavior
1 view
Theme background image
Social Sciences
4 years ago

Social context shapes generosity levels in resource allocation tasks

Economic Behavior
Behavior Change
Cultural Psychology

Preferences can change when people interact with each other. This study looks at how individuals have their own core preferences and also behavioral preferences influenced by others in a group. People make decisions based on these behavioral preferences. The researchers examined different types of social influence functions and how they impact decision-making outcomes. They used a model to study how a committee makes decisions after discussing things together.