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American Economic Journal: Microeconomics: Vol. 2 No. 1 (February 2010)
AEJ: Micro Volume. 2, Issue 1 | 
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AEJ: Micro Forthcoming Articles
Information Percolation
Article Citation
Duffie, Darrell,
Gaston Giroux, and
Gustavo Manso. 2010. "Information Percolation."
American Economic Journal: Microeconomics,
2(1): 100-111.
DOI: 10.1257/mic.2.1.100
DOI: 10.1257/mic.2.1.100
Abstract
We study the "percolation" of information of common interest
through a large market as agents encounter and reveal information
to each other over time. We provide an explicit solution for the
dynamics of the cross-sectional distribution of posterior beliefs. We
also show that convergence of the cross-sectional distribution of
beliefs to a common posterior is exponential and that the rate of
convergence does not depend on the size of the groups of agents that
meet. The rate of convergence is merely the mean rate at which an
individual agent is matched. (JEL D83)
Article Full-Text Access
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Authors
Duffie, Darrell (Stanford U)
Giroux, Gaston (?)
Manso, Gustavo (MIT)
Giroux, Gaston (?)
Manso, Gustavo (MIT)
JEL Classifications
D83: Search; Learning; Information and Knowledge; Communication; Belief
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