When banks choose similar investment strategies, the financial system becomes vulnerable to common shocks. Banks decide about their investment strategy ex-ante based on a private belief about the state of the world and a social belief formed from observing the actions of peers. When the social...

This paper studies the effects of social learning on the transmission of COVID-19 in a network model. We calibrate our model to detailed data for Cape Town, South Africa and show that the inclusion of social learning improves the prediction of excess fatalities, reducing the best-fit squared...

We model the spread of news as a social learning game on a network. Agents can either endorse or oppose a claim made in a piece of news, which itself may be either true or false. Agents base their decision on a private signal and their neighbors' past actions. Given these inputs, agents follow...