Dynamics of social influence on consumption choices: A social network representation

In this work, through employing Friedkin Johnsen's model, we provide a valuable tool for understanding the complex dynamics of social influence and informational inducements in shaping consumption behaviour and highlight the need for governments, businesses, and individuals to address environmental concerns proactively. People mostly derive anticipation utility from consuming commodities through online shopping. Results suggest that in an information-loving society, people tend to follow the opinion of their groups, which can lead to inefficient choices. On the other hand, in a completely information-averse society, people tend to make inconsistent choices, leading to a lack of consensus. However, in a responsible society, individuals prioritise their own opinions and preferences while still taking into account the information and opinions of others. This results in a slow convergence of opinions, which can lead to responsible consumption and decision-making. People should be encouraged to form their own opinions based on their own experiences and preferences while still considering the information and opinions of others. It can lead to a more efficient and responsible society. Individuals with high self-confidence and self-control are more likely to resist peer pressure and make decisions that align with their values and goals. So, it is essential to consider the context and nature of the social influence when evaluating its impact on people's decision-making. Consumers are not the only players who can shape the world's future. Consumers, governments, corporations, and the media all have important roles to play, and their efforts must be coordinated and complementary to create a more sustainable future.