When theorizing about the world and how information is spread, it is easy to assume that better information will prevail, and, when conducting social network analysis, that all information is equal, it is all about the structure and characteristics of the node.

This is probably very wrong. Some stories; representations of information, are more conducive to be spread than others, are more contagious. Here is a great article on the topic; and very relevant in this age of fake news.

An extract from the articel:

Economists often assume that rational agents search for the most accurate descriptions of the world, so as to maximize their utility. However, Professor Shiller points out that information is more than just facts. They are packaged as stories. In his address, he focused on the concept of narratives. Narratives are simple stories that we tell to ourselves and to others to explain the world. These narratives are stimulating and easy to understand, remember, and share. So, they go viral, as people want to share them at cocktail parties and on social media.

The Role of Narratives in Economics

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