Aggregate observational distinguishability is necessary and sufficient for social learning

Pooya Molavi*, Ali Jadbabaie

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingConference contribution

4 Scopus citations

Abstract

We study a model of information aggregation and social learning recently proposed by Jadbabaie, Sandroni, and Tahbaz-Salehi, in which individual agents try to learn a correct state of the world by iteratively updating their beliefs using private observations and beliefs of their neighbors. No individual agent's private signal might be informative enough to reveal the unknown state. As a result, agents share their beliefs with others in their social neighborhood to learn from each other. At every time step each agent receives a private signal, and computes a Bayesian posterior as an intermediate belief. The intermediate belief is then averaged with the beliefs of neighbors to form the individual's belief at next time step. We find a set of necessary and sufficient conditions under which agents will learn the unknown state and reach consensus on their beliefs without any assumption on the private signal structure. The key enabler is a result that shows that using this update, agents will eventually forecast the indefinite future correctly.

Original languageEnglish (US)
Title of host publication2011 50th IEEE Conference on Decision and Control and European Control Conference, CDC-ECC 2011
Pages2335-2340
Number of pages6
DOIs
StatePublished - 2011
Event2011 50th IEEE Conference on Decision and Control and European Control Conference, CDC-ECC 2011 - Orlando, FL, United States
Duration: Dec 12 2011Dec 15 2011

Publication series

NameProceedings of the IEEE Conference on Decision and Control
ISSN (Print)0191-2216

Other

Other2011 50th IEEE Conference on Decision and Control and European Control Conference, CDC-ECC 2011
CountryUnited States
CityOrlando, FL
Period12/12/1112/15/11

ASJC Scopus subject areas

  • Control and Systems Engineering
  • Modeling and Simulation
  • Control and Optimization

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