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Echo chambers and their effects on economic and political outcomes

Levy, Gilat and Razin, Ronny (2019) Echo chambers and their effects on economic and political outcomes. Annual Review of Economics, 11. 303 - 328. ISSN 1941-1383

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Identification Number: 10.1146/annurev-economics-080218-030343

Abstract

In this review, we survey the economics literature on echo chambers. We identify echo chambers as arising from a combination of two phenomena: (a) the choice of individuals to segregate with like-minded ones, i.e., the creation of chambers, and (b) behavioral biases that induce polarization when individuals exchange beliefs in these chambers, i.e., the echo. We summarize the literatures on these two phenomena and suggest how to combine the two literatures to gain insights about the effects of echo chambers on economic and political outcomes. We end by suggesting pathways for future research and discussing policy interventions to alleviate echo chambers.

Item Type: Article
Additional Information: © 2019 Annual Reviews
Divisions: Economics
Subjects: H Social Sciences > HC Economic History and Conditions
H Social Sciences > HG Finance
J Political Science > JA Political science (General)
JEL classification: A - General Economics and Teaching > A1 - General Economics > A13 - Relation of Economics to Social Values
A - General Economics and Teaching > A1 - General Economics > A14 - Sociology of Economics
A - General Economics and Teaching > A2 - Economics Education and Teaching of Economics > A20 - General
D - Microeconomics > D7 - Analysis of Collective Decision-Making > D70 - General
D - Microeconomics > D8 - Information, Knowledge, and Uncertainty > D80 - General
D - Microeconomics > D9 - Intertemporal Choice and Growth > D90 - General
Date Deposited: 20 Aug 2019 14:42
Last Modified: 28 May 2020 23:12
URI: http://eprints.lse.ac.uk/id/eprint/101413

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