Concept information
Preferred term
social interactions: individual decision and group formation
Definition
- This entry introduces the growing field of social interactions, created by economists and econometricians to study the effects of peer groups on individuals' decisions. The theoretical and empirical advances in this field help explain a number of otherwise puzzling social phenomena and offer empirical support to the influence of group actions and beliefs on individuals' choice. [Source: Encyclopedia of Philosophy and the Social Sciences; Social Interactions: Individual Decision and Group Formation]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/social_interactions:_individual_decision_and_group_formation
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