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Multi-Agent Inference in Social Networks: A Finite Population Learning Approach
Jianqing Fan1, Xin Tong2, Yao Zeng3
1Frederick L. Moore'18 Professor of Finance, Department of Operations Research and Finance Engineering, Princeton University, Princeton, NJ 08544 ( jqfan@princeton.edu ), and Adjunct Professor, School of International Economics and Management, Capital University of Economics and Business.
This study introduces finite population learning to model how social network interactions affect statistical inference. It explores how costly information exchange influences decision-making and aggregate inference quality in large populations.
Area of Science:
- Statistical inference
- Game theory
- Social network analysis
Background:
- Individuals in society often rely on data from others for statistical inference.
- Information exchange in social networks incurs costs, creating trade-offs between data acquisition benefits and costs.
- Classical statistics overlooks the impact of individual incentives and interactions on data collection.
Purpose of the Study:
- To explore multi-agent Bayesian inference within a game-theoretic social network framework.
- To introduce and define the concept of finite population learning.
- To investigate the conditions under which a large fraction of a finite population can achieve reliable statistical inference.
Main Methods:
- Development of a game-theoretic social network model for multi-agent Bayesian inference.
- Introduction of the novel concept of finite population learning.
- Analysis of aggregate inference quality in finite populations.
Main Results:
- The proposed model captures conflicts of interest and coordination problems in information exchange.
- Finite population learning provides a framework to assess the probability of "good" inference across a population.
- The study lays the groundwork for analyzing long-term trends in aggregate inference as population size increases.
Conclusions:
- Game theory and social network models are essential for understanding real-world statistical inference.
- Finite population learning offers a new perspective on the scalability and reliability of collective decision-making.
- This research bridges the gap between individual incentives and societal-level statistical outcomes.
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