Interactive Opinion Formation in a Multi-Opinion Model

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Flieth, B.; von Wangenheim, G.
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Papers on Economics and Evolution
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We model incompletely informed individuals who adopt their opinion from a range of two or more opinions. Probabilities of adoption depend on information provided by other individuals, hence on the current shares of opinions in the population; and on external information. Using the synergetic tools to analyse this markov process we show that multiple stationary distributions of opinions may exist. Whether path dependency exists, depends on the relevance and bias of external information. Applying this model to Public Choice theory we can explain partial indetermency of interest groups investements' outcome.


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Last updated on 2019-05-11 at 12:58