Modeling the role of Social Learning in Compensating the Misleading Effect in Individual Learning

چکیده مقاله

People face some biases in their personal learning and decisions that sometimes lead to irrational behaviors that are not optimum. In personal learning people have different performances in same condition that sometimes does not eventuate to one’s final profit. Nevertheless, man is a social creature who can exchange information with others and observe the consequences of other members of the society’s behaviors. By utilizing several models of individual and social learning and also considering biases and irrational individual behaviors, we demonstrate that for each state of information exchange and for people’s different personalities in approving other’s information and its effect on their learning, socialization assist individuals to compensate the negative impacts of personal biases and eventually despite the existence of those biases and irrational individual behaviors, social learning leads to optimality of collective objective function and improve the behaviors of the community members.

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