297
Views
2
CrossRef citations to date
0
Altmetric
Articles

Something out of nothing: a Bayesian learning computational model for the social construction of value

Pages 65-89 | Received 04 Jul 2019, Accepted 01 Aug 2019, Published online: 18 Aug 2019

References

  • Akerlof, G. (1970). The market for “Lemons”: Quality uncertainty and the market mechanism. The Quarterly Journal of Economics, 84(3). doi:10.2307/1879431
  • Anderson, P. W. (1972). More is different. Science, 177(4047), 393–396. doi:10.1126/science.177.4051.788
  • Arthur, B. (1994). Increasing returns and path dependence in the economy. Ann Arbor, MI: University of Michigan Press.
  • Barnes, B. (1983). Social life as bootstrapped induction. Sociology, 17(4), 524–545. doi:10.1177/0038038583017004004
  • Bednar, J., & Page, S. (2007). Can game(s) theory explain culture?: The emergence of cultural behavior within multiple games. Rationality and Society, 19(1), 65–97. doi:10.1177/1043463107075108
  • Biggart, N. W., & Beamish, T. D. (2003). The economic sociology of conventions: Habit, custom, practice, and routine in market order. Annual Review of Sociology, 29(1), 443–464. doi:10.1146/annurev.soc.29.010202.100051
  • Bikhchandani, S., Hirshleifer, D., & Welch, I. (1992). A theory of fads, fashion, custom, and cultural change as informational cascades. Journal of Political Economy, 100(5), 992–1026. doi:10.1086/261849
  • Boltanski, L., & Thévenot, L. (2007). On justification: Economies of worth (Vol. 5). Princeton, NJ: Princeton University Press.
  • Bourdieu, P. (1984). Distinction: A social critique of the judgement of taste. Cambridge, MA: Harvard University Press.
  • Bowles, S. (1998). Endogenous preferences: The cultural consequences of markets and other economic institutions. Journal of Economic Literature, 36(1), 75–111.
  • Boyd, R., Richerson, P. J., & Henrich, J. (2011). The cultural niche: why social learning is essential for human adaptation. Proceedings of the National Academy of Sciences, 108, 10918–10925. doi:10.1073/pnas.1100290108
  • Boyer, R., & Orléan, A. (1992). How do conventions evolve? Journal of Evolutionary Economics, 2, 165–177. doi:10.1007/BF01202416
  • Carruthers, B., & Babb, S. (1996). The color of money and the nature of value: Greenbacks and gold in postbellum America. American Journal of Sociology, 101(6), 1556–1591. doi:10.1086/230867
  • Castellano, C., Fortunato, S., & Loreto, V. (2009). Statistical physics of social dynamics. Reviews of Modern Physics, 81(2), 591–646. doi:10.1103/RevModPhys.81.591
  • Chwe, M. S.-Y. (2001). Rational ritual: Culture, coordination, and common knowledge. Princeton, NJ: Princeton University Press.
  • Coleman, J. (1990). Foundations of social theory. Cambridge, MA: Belknap Press of Harvard University Press.
  • Correll, S. J., Ridgeway, C. L., Zuckerman, E. W., Jank, S., Jordan-Bloch, S., & Nakagawa, S. (2017). It’s the conventional thought that counts: How third-order inference produces status advantage. American Sociological Review, 82(2), 297–327. doi:10.1177/0003122417691503
  • De Houwer, J. (2007). A conceptual and theoretical analysis of evaluative conditioning. The Spanish Journal of Psychology, 10(2), 230–241. doi:10.1017/S1138741600006491
  • Dimaggio, P. (1987). Classification in art. American Sociological Review, 52(4), 440–455. doi:10.2307/2095290
  • DiPrete, T. A., & Eirich, G. M. (2006). Cumulative advantage as a mechanism for inequality: A review of theoretical and empirical developments. Annual Review of Sociology, 32(1), 271–297. doi:10.1146/annurev.soc.32.061604.123127
  • Dupuy, J.-P. (1989). Common knowledge, common sense. Theory and Decision, 27, 37–62. doi:10.1007/BF00133987
  • Durkheim, É. (1966). The Rules of Sociological method. New York, NY: The Free Press.
  • Epstein, J. M. (2006). Generative social science: Studies in agent-based computational modeling. Princeton, NJ: Princeton University Press.
  • Foster, J. G. (2018). Culture and computation: Steps to a probably approximately correct theory of culture. Poetics, 68(April), 144–154. doi:10.1016/j.poetic.2018.04.007
  • Fourcade, M. (2011). Cents and sensibility: Economic valuation and the nature of nature. American Journal of Sociology, 116(6), 1721–1777. doi:10.1086/659640
  • Fujimura, J. H. (1988). The molecular biological bandwagon in cancer research: Where social worlds meet. Social Problems, 35(3), 95–130. doi:10.2307/800622
  • Gast, A., Gawronski, B., & De Houwer, J. (2012). Evaluative conditioning: Recent developments and future directions. Learning and Motivation, 43(3), 79–88. doi:10.1016/j.lmot.2012.06.004
  • Girard, R. (1965). Deceit, desire, and the novel: self and other in literary structure. Baltimore, MD: John Hopkins Press.
  • Goldberg, A., & Stein, S. K. (2018). Beyond social contagion: Associative diffusion and the emergence of cultural variation. American Sociological Review, 83(5), 897–932. doi:10.1177/0003122418797576
  • Griswold, W. (1987). The fabrication of meaning: Literary interpretation in the United States, Great Britain, and the West Indies. American Journal of Sociology, 92(5), 1077–1117. doi:10.1086/228628
  • Harras, G., & Sornette, D. (2011). How to grow a bubble: A model of myopic adapting agents. Journal of Economic Behavior and Organization, 80(1), 137–152. doi:10.1016/j.jebo.2011.03.003
  • Hatfield, E., Cacioppo, J. T., & Rapson, R. L. (1994). Emotional contagion. Current Directions in Psychological Science, 2(3), 96–99. doi:10.1111/1467-8721.ep10770953
  • Hedström, P., & Swedberg, R. (1998). Social mechanisms: An analytical approach to social theory. New York, NY: Cambridge University Press.
  • Hedström, P., & Ylikoski, P. (2010). Causal Mechanisms in the Social Sciences. Annual Review of Sociology, 36(1), 49–67. doi:10.1146/annurev.soc.012809.102632
  • Hofmann, W., De Houwer, J., Perugini, M., Baeyens, F., & Crombez, G. (2010). Evaluative conditioning in humans: A meta-analysis. Psychological Bulletin, 136(3), 390–421. doi:10.1037/a0018916
  • Katz, M., & Shapiro, C. (1994). Systems competition and network effects. The Journal of Economic Perspectives, 8(2), 93–115. doi:10.1257/jep.8.2.93
  • Keynes, J. M. (1936). The general theory of employment, interest and money. New York, NY: Houghton Mifflin Harcourt.
  • Krippner, G. (2001). The elusive market: Embeddedness and the paradigm of economic sociology. Theory and Society, 30(6), 775–810. doi:10.1023/A:1013330324198
  • Lamont, M. (2012). Toward a comparative sociology of valuation and evaluation. Annual Review of Sociology, 38(1), 201–221. doi:10.1146/annurev-soc-070308-120022
  • Lewis, D. (1969). Convention: A philosophical study. Cambridge, MA: Harvard University Press.
  • Lieberson, S. (2000). A matter of taste: how names, fashions, and culture change. New Haven, CT: Yale University Press.
  • Lynn, F. B., Podolny, J. M., & Tao, L. (2009). A sociological (de) construction of the relationship between status and quality. American Journal of Sociology, 11(3), 755–804. doi:10.1086/603537
  • Macy, M. W., & Willer, R. (2002). From factors to actors: Computational sociology and agent-based modeling. Annual Review of Sociology, 28(1), 143–166. doi:10.1146/annurev.soc.28.110601.141117
  • Marshall, A. (2013). Principles of economics (8th ed.). New York, NY: Palgrave Macmillan.
  • Merton, R. K. (1948). The self-fulfilling prophecy. The Antioch Review, 8(2), 193–210. doi:10.2307/4609267
  • Miles, A. (2015). The (Re)genesis of values: Examining the importance of values for action. American Sociological Review, 80(4), 680–704. doi:10.1177/0003122415591800
  • Muth, J. F. (1961). Rational expectations and the theory of price movements. Econometrica, 29(3), 315–335. doi:10.2307/1909635
  • Nagel, R. (1995). Unraveling in guessing games: An experimental study. The American Economic Review, 85(5), 1313–1326.
  • Orléan, A. (1995). Bayesian interactions and collective dynamics of opinion: Herd behavior and mimetic contagion. Journal of Economic Behavior and Organization, 28, 257–274. doi:10.1016/0167-2681(95)00035-6
  • Orléan, A. (2014). The empire of value: A new foundation for economics. Cambridge, MA: MIT Press.
  • Ostrom, M. (1988). Computer simulation: The third symbol system. Journal of Experimental Social Psychology, 24, 381–392. doi:10.1016/0022-1031(88)90027-3
  • Perreault, C., Moya, C., & Boyd, R. (2012). A Bayesian approach to the evolution of social learning. Evolution and Human Behavior, 33(5), 449–459. doi:10.1016/j.evolhumbehav.2011.12.007
  • Ricardo, D. (1996). Principles of political economy and taxation. New York, NY: Prometheus Books.
  • Rothschild, M. (1973). Models of market organization with imperfect information: A survey. Journal of Political Economy, 81(6), 1283–1308. doi:10.1086/260128
  • Salganik, M. J., Dodds, P., & Watts, D. J. (2006). Experimental study of inequality and unpredictability in an artificial cultural market. Science, 311(5762), 854–856. doi:10.1126/science.1121066
  • Salganik, M. J., & Watts, D. J. (2008). Artificial cultural market leading the herd astray: An experimental study of self-fulfilling prophecies in an artificial cultural market. Social Psychology Quarterly, 71(4), 338–355. doi:10.1177/019027250807100404
  • Sayama, H. (2015). Introduction to the modeling and analysis of complex systems. Geneseo: Open SUNY Textbooks.
  • Schelling, T. (1960). The Strategy of Conflict. Cambridge, MA: Harvard University Press.
  • Shaw, L. (2015). Mechanics and dynamics of social construction: Modeling the emergence of culture from individual mental representation. Poetics, 52, 75–90. doi:10.1016/j.poetic.2015.07.003
  • Shepherd, H. R. (2017). The structure of perception: How networks shape ideas of norms. Sociological Forum, 32(1), 72–93. doi:10.1111/socf.2017.32.issue-1
  • Smith, A. (2003). The wealth of nations. New York, NY: Bantam Classics.
  • Spence, M. (1973). Job market signaling. Quarterly Journal of Economics, 87(3), 355–374. doi:10.2307/1882010
  • Stigler, G. J. (1961). The Economics of Information. The Journal of Political Economy, 69(3), 213–225. doi:10.1086/258464
  • Thomas, W. I., & Thomas, D. S. (1928). The child in America: Behavior problems and programs. New York, NY: Knopf.
  • Veblen, T. (1953). The Theory of the Leisure Class. New York, NY: New American Library.
  • Wilensky, U., & Rand, W. (2015). An introduction to agent-based modeling: Modeling natural, social, and engineered complex systems with netlogo. Cambridge, MA: MIT Press.
  • Woodford, M. (1990). Learning to Believe in Sunspots. Econometrica, 58(2), 277–307. doi:10.2307/2938205
  • Wyart, M., & Bouchaud, J. P. (2007). Self-referential behaviour, overreaction and conventions in financial markets. Journal of Economic Behavior and Organization, 63(1), 1–24. doi:10.1016/j.jebo.2004.11.016
  • Young, P. (1993). The Evolution of Conventions. Econometrica, 65(6), 1389–1419.
  • Zajac, E. J., & Westphal, J. D. (2004). The social construction of market value: Institutionalization and learning perspectives on stock market reactions. American Sociological Review, 69(3), 433–457. doi:10.1177/000312240406900306
  • Zelizer, V. (1994). The social meaning of money. New York, NY: Basic Books.
  • Zelizer, V. (2011). Economic lives: How culture shapes the economy. Princeton, NJ: Princeton University Press.
  • Zuckerman, E. W. (2012). Construction, concentration, and (dis)continuities in social valuations. Annual Review of Sociology, 38(1), 223–245. doi:10.1146/annurev-soc-070210-075241

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.