ICT Revolution, Globalization and Informational Lock-in
Sanditov, Bulat (2004). ICT Revolution, Globalization and Informational Lock-in. UNU-MERIT Research Memoranda. UNU-MERIT.
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Sub-type Working paper Author Sanditov, Bulat Title ICT Revolution, Globalization and Informational Lock-in Series Title UNU-MERIT Research Memoranda Volume/Issue No. 13 Publication Date 2004 Publisher UNU-MERIT Language eng Abstract We examine a model of social learning in networks following the lines of Bala and Goyal (1998, 2001). As a model of agents' behaviour we have chosen the model of informational cascades of Bikhchandani et al (1992). Similarly to Bala and Goyal we find that the higher the 'degree of integration' within the society is, the more likely it is that conformity of actions will arise. However, unlike their results our model suggests that in the presence of informational externalities globalisation of informational flows, expressed in the increasing density of communication channels in a network, may drive down the expected social welfare. Copyright Year 2004 Copyright type All rights reserved -
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