The Law of the Few
实证发现多数人的信息来自少数意见领袖,且意见领袖与其他人在可观测特征上差异很小。本文建立模型,证明所有稳健均衡都呈现这一少数人定律。
Empirical work shows that a large majority of individuals get most of their information from a very small subset of the group, viz., the influencers; moreover, there exist only minor differences between the observable characteristics of the influencers and the others. We refer to these empirical findings as the Law of the Few. This paper develops a model where players personally acquire information and form connections with others to access their information. Every (robust) equilibrium of this model exhibits the law of the few.