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Similarity and polarization in groups

1st Person: Baccara, Mariagiovanna
Additional Persons: Yariv, Leeat
Type of Publication: Paper
Language: English
Published: Wissenschaftszentrum Berlin für Sozialforschung (WZB) 2010
Series: WZB Discussion Paper
Online: https://www.econstor.eu/bitstream/10419/54574/1/682526746.pdf
id
oai_econstor.eu_10419-54574
recordtype
econstor
institution
MPG
collection
ECONSTOR
title
Similarity and polarization in groups
spellingShingle
Similarity and polarization in groups
Baccara, Mariagiovanna
WZB Discussion Paper
title_short
Similarity and polarization in groups
title_full
Similarity and polarization in groups
title_fullStr
Similarity and polarization in groups
title_full_unstemmed
Similarity and polarization in groups
title_sort
Similarity and polarization in groups
format
electronic Article
format_phy_str_mv
Paper
publisher
Wissenschaftszentrum Berlin für Sozialforschung (WZB)
publishDate
2010
language
English
author
Baccara, Mariagiovanna
author2
Yariv, Leeat
author2Str
Yariv, Leeat
description
The focus of this paper is the endogenous formation of peer groups. We study a model in which agents choose their peers prior to making decisions on multiple issues. Agents differ in how much they value the decision outcomes on one issue relative to another. While each individual can collect information on at most one issue, all information is shared within the group. Thus, the group's preference composition affects the type of information that gets collected. We characterize stable groups, groups that are optimal for all their members. When information costs are low, stable groups must be sufficiently homogeneous. Furthermore, stability requires more similarity among extremists than among moderate individuals. When information costs are substantial, a free rider problem arises, and makes extreme peers more desirable, as they are more willing to invest in information acquisition. We show that, as information costs grow, polarization appears and becomes increasingly pronounced in stable groups.
url
https://www.econstor.eu/bitstream/10419/54574/1/682526746.pdf
series
WZB Discussion Paper
seriesStr
WZB Discussion Paper
WZB Discussion Paper
series2
WZB Discussion Paper
series2_facet
WZB Discussion Paper
up_date
2019-06-17T02:50:17.343Z
_version_
1636554316333449216

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