Farmers' adoption of novel technologies is influenced by other farmers' behavior, a phenomenon known as peer effects. Although such effects have been studied intensively, the literature does not clearly distinguish between those that result (1) from verbal exchanges with other farmers and (2)...

In today's world, social networks have a significant impact on information processes, shaping individuals' beliefs and influencing their decisions. This paper proposes a model to understand how boundedly rational (DeGroot) individuals behave when seeking information to make decisions in...