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The law of the few

Galeotti, A and Goyal, S (2010) 'The law of the few.' American Economic Review, 100 (4). 1468 - 1492. ISSN 0002-8282

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Abstract

Empirical work shows that a large majority of individuals get most of their information from a very small subset of the group, viz., the influencers; moreover, there exist only minor differences between the observable characteristics of the influencers and the others. We refer to these empirical findings as the Law of the Few. This paper develops a model where players personally acquire information and form connections with others to access their information. Every (robust) equilibrium of this model exhibits the law of the few.

Item Type: Article
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences > Economics, Department of
Depositing User: Jim Jamieson
Date Deposited: 16 Jul 2012 14:33
Last Modified: 17 Aug 2017 18:10
URI: http://repository.essex.ac.uk/id/eprint/2972

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