6533b862fe1ef96bd12c76c7

RESEARCH PRODUCT

Mean-Field Game Modeling the Bandwagon Effect with Activation Costs

Fabio BagagioloRaffaele PesentiDario BausoDario Bauso

subject

Physics::Physics and SocietyStatistics and Probability0209 industrial biotechnologyEconomics and Econometrics02 engineering and technologyMean-field gamesMean field gameActivation costs; Bandwagon effect; Games with infinitely many players; Mean-field games; Mode; Threshold policies;01 natural sciencesActivation costs010305 fluids & plasmasMicroeconomics020901 industrial engineering & automationOpinion dynamicsGames with infinitely many players; Bandwagon effect; Activation costs; Threshold policies; Mean-field games; ModeMean-field game0103 physical sciencesEconomicsThreshold policiesMainstreamBandwagon effectStructure (mathematical logic)Game theoreticApplied MathematicsMode (statistics)Computer Science::Social and Information NetworksComputer Graphics and Computer-Aided DesignComputer Science ApplicationsComputational MathematicsActivation costComputational Theory and MathematicsGames with infinitely many playersGames with infinitely many playerModeSettore MAT/09 - Ricerca OperativaConstant (mathematics)Threshold policieMathematical economicsBandwagon effect

description

This paper provides a mean-field game theoretic model of the bandwagon effect in social networks. This effect can be observed whenever individuals tend to align their own opinions to a mainstream opinion. The contribution is threefold. First, we describe the opinion propagation as a mean-field game with local interactions. Second, we establish mean-field equilibrium strategies in the case where the mainstream opinion is constant. Such strategies are shown to have a threshold structure. Third, we extend the use of threshold strategies to the case of time-varying mainstream opinion and study the evolution of the macroscopic system.

yearjournalcountryeditionlanguage
2015-09-04Dynamic Games and Applications
https://doi.org/10.1007/s13235-015-0167-x