Join us on Monday, March 27, when Sandy Pentland joins us to share his research.

Join us for lunch starting at 11:45am, with talk to follow 12-1pm. 

Abstract: Markets with preferential attachment are characterized by long tail distributions and unobservable decision structures.  As a consequence, sometimes the familiar foundations of economics…e.g., the fundamental welfare theorem, the central limit theorem…do not hold.  In these cases large, anti-intuitive phenomena can occur.  I will discuss how these insights potentially change our understanding of how markets, organizations,  social media, democratic processes, and even international competition function, and suggest revised methods of measurement and management

Background Papers:  

• https://www.pnas.org/doi/abs/10.1073/pnas.2003632117
• https://royalsocietypublishing.org/doi/full/10.1098/rsos.220899
• Cognition 2021, Bayesian collective learning from heuristic social learning: https://pubmed.ncbi.nlm.nih.gov/33770743/