The emergence of leadership in social networks
Abstract
We study a networked version of the minority game in which agents can choose to follow the choices made by a neighbouring agent in a social network. We show that for a wide variety of networks a leadership structure always emerges, with most agents following the choice made by a few agents. We find a suitable parameterisation which highlights the universal aspects of the behaviour and which also indicates where results depend on the type of social network.
- Publication:
-
Physica A Statistical Mechanics and its Applications
- Pub Date:
- February 2012
- DOI:
- 10.1016/j.physa.2011.11.011
- arXiv:
- arXiv:1106.0296
- Bibcode:
- 2012PhyA..391.1434C
- Keywords:
-
- Physics - Physics and Society;
- Computer Science - Social and Information Networks;
- Quantitative Finance - General Finance
- E-Print:
- 22 pages (as in Physica A but with a few extra references to supplementary material) plus 11 pages of supplementary material not in Physica A version