Information Acquisition and Exchange In Social Networks
实验研究了信息获取与社交链接的相对成本变化如何影响投资分散度、网络密度及个体福利，发现链接成本下降使投资更分散、网络更密集，总福利提升。
A central feature of social networks is information sharing. The Internet and related computing technologies shape the relative costs of private information acquisition and forming links with others. This paper presents an experiment on the effects of changing costs. We find that a decline in relative costs of linking makes private investments more dispersed and gives rise to denser social networks. Aggregate investment falls, but individuals’ access to investment remains stable, due to increased networking. The overall effect is an increase in individual utility and aggregate welfare.