Caltech Home > HSS Home > Research > Social Sciences Research > Working Papers > Fake News, Information Herds, Cascades and Economic Knowledge
open search form

Fake News, Information Herds, Cascades and Economic Knowledge

Paper Number: 1442
Creation Date: 03/21/2019
Abstract:

The paper addresses the issue of “fake news” through a well-known and widely studied experiment that illustrates a possible science behind the phenomenon. Public news is viewed as an aggregation of decentralized pieces of valuable information about complex events. Such systems rely on accumulated investment in trust in news sources. In the case of fake news, news source reliability is not known. The experiment demonstrates how fake news can destroy both the investment in trust and also the benefits that news provides.

Paper Length: 24
Paper: sswp1442.pdf