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on Social Norms and Social Capital |
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Issue of 2024‒09‒09
five papers chosen by Fabio Sabatini, Università degli Studi di Roma “La Sapienza” |
| By: | Michael Gelman; David Hirshleifer; Yaron Levi; Liron Reiter-Gavish |
| Abstract: | We document a causal effect of social interactions on investor behavior using the number of local soccer games as a measure of social interaction intensity. Social transmission is identifiable in buy but not sell trades. The effect of Social Interaction Intensity (SII) on the sensitivity of buying to past buys is greater for riskier and high-return stocks. Social interactions cause an extremity shift wherein existing shareholders increase their positions, especially within demographically homogeneous communities. There is suggestive evidence that investor mood may modulate the effectiveness of transmission. Higher social interaction intensity increases the sensitivity of investors' trading volume, and portfolio riskiness to past trades. SII also increases the sensitivity of stock trading volume and retail ownership percentage to past buys. |
| JEL: | D14 D9 D91 G11 G12 G40 G5 G50 |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:nbr:nberwo:32772 |
| By: | Eleonora Alabrese; Francesco Capozza; Prashant Garg |
| Abstract: | The study measures scientists’ polarization on social media and its impact on public perceptions of their credibility. Analyzing 98, 000 scientists on Twitter from 2016 to 2022 reveals significant divergence in expressed political opinions. An experiment assesses the impact of online political expression on a representative sample of 1, 700 U.S. respondents, who rated vignettes with synthetic academic profiles varying scientists’ political affiliations based on real tweets. Politically neutral scientists are viewed as the most credible. Strikingly, on both the ’left’ and ’right’ sides of politically neutral, there is a monotonic penalty for scientists displaying political affiliations: the stronger their posts, the less credible their profile and research are perceived, and the lower the public’s willingness to read their content. The penalty varies with respondents’ political leanings. |
| Keywords: | Twitter, trust in science, ideological polarization, affective polarization, online experiment |
| JEL: | A11 C93 D72 D83 D91 I23 Z10 Z13 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11254 |
| By: | Neugart, Michael; Zaharieva, Anna |
| Abstract: | Empirical studies show that women have lower chances of reaching top management positions, known as the glass‐ceiling effect. To study women's careers, we develop a search and matching model where job ladders consist of three hierarchical levels and workers can progress in the career by means of internal promotions or by transitioning to another firm. Both, formal applications and referral hiring via endogenous social networks can be used for moving between firms. We show that when female workers are minority in the labor market and social link formation is gender‐biased (homophilous), there are too few female contacts in the social networks of their male colleagues. This disadvantage implies that female workers are referred less often and, thereby, become underrepresented in top‐level management positions of firms relative to their fraction in the market. Our main theoretical results are consistent with the empirical evidence based on the German Socio‐Economic Panel. |
| Date: | 2024–07–12 |
| URL: | https://d.repec.org/n?u=RePEc:dar:wpaper:149305 |
| By: | Von Arnim, Rudiger; Tröster, Bernhard; Raza, Werner |
| Abstract: | Can consumers trust that the food they buy in the supermarket, even if imported, is not harmful to their health? What would be the consequences if their trust in existing health and safety standards were to be undermined by recognizing lower foreign standards? Against the backdrop of public debates (e.g., on the merits of chlorine-washed chicken, banned in the EU, but legal under the proposed TTIP agreement with the United States), this paper discusses the close link between trust, regulation and international trade. It turns out that as local regulatory systems have evolved, they have created a "generalized trust" that promotes economic activity. Aggressive regulatory harmonization through trade agreements could jeopardize the fragile balance of trust and activity. |
| Keywords: | non-tariff barriers, TTIP, CETA, international treaties, trade agreement |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:hbsfof:300717 |
| By: | Pierre C. Boyer; Germain Gauthier; Yves Le Yaouanq; Vincent Rollet; Benoît Schmutz-Bloch |
| Abstract: | We propose a theory of protest dynamics with heterogeneous protest technology and intensity. The ability to mobilize online reduces the likelihood of coordination failures at both the extensive (engagement) and intensive (violence) margins. Social media can initially help launch massive protests, but then encourage radical factions to turn violent and drive out moderates. Using both online and offline data, we show that the 2018 Yellow Vest uprising in France followed such a crowd-in-then-crowd-out sequence: early online and offline mobilizations reinforced each other, but online discussions quickly radicalized, moderates left, and a handful of violent protesters took over the streets. |
| Keywords: | protests, learning traps, crowding-out, violence, social media, NLP |
| JEL: | D72 D74 L82 Z13 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11257 |