Melting-Pot or Homophily? - An Empirical Investigation of User Interactions in Virtual Investment-Related Communities

作者: Bin Gu , Prabhudev Konana , Hsuan-Wei Michelle Chen

DOI: 10.2139/SSRN.1259224

关键词:

摘要: Much has been discussed in popular press about virtual communities being melting pots of ideas and opinions. However, little is known as to how individuals actually interact what degree interactions occur between with different opinions, which are reflected respond (i.e., post) others’ messages. In this study, we analyze individual based on the cognitive dissonance theory. We argue that interaction decisions motivated by desire decrease an individual’s own opinion opinions others community. This results confirmation bias homophily phenomenon decisions, i.e., prefer similar Based theory, propose that, moderated magnitude dissonance, availability objective references, community size. Using 72,019 29 stock message boards Yahoo! Finance investment-related communities, show significant support for hypotheses. discuss implications decision making, information dissemination value source.

参考文章(65)
Werner Antweiler, Murray Z. Frank, Is All That Talk Just Noise? The Information Content of Internet Stock Message Boards Journal of Finance. ,vol. 59, pp. 1259- 1294 ,(2004) , 10.1111/J.1540-6261.2004.00662.X
Atip Asvanund, Karen B. Clay, Ramayya Krishnan, Michael D. Smith, An Empirical Analysis of Network Externalities in Peer-To-Peer Music Sharing Networks Social Science Research Network. ,(2003) , 10.2139/SSRN.433780
Brad M. Barber, Chip Heath, Terrance Odean, Good Reasons Sell: Reason-Based Choice Among Group and Individual Investors in the Stock Market Management Science. ,vol. 49, pp. 1636- 1652 ,(2003) , 10.1287/MNSC.49.12.1636.25109
B. M. Barber, T. Odean, Boys will be Boys: Gender, Overconfidence, and Common Stock Investment Quarterly Journal of Economics. ,vol. 116, pp. 261- 292 ,(2001) , 10.1162/003355301556400
Brad M Barber, Terrance Odean, The Internet and the Investor Journal of Economic Perspectives. ,vol. 15, pp. 41- 54 ,(2001) , 10.1257/JEP.15.1.41
Brad M. Barber, Terrance Odean, Online Investors: Do the Slow Die First? Review of Financial Studies. ,vol. 15, pp. 455- 488 ,(2002) , 10.1093/RFS/15.2.455
Erik Brynjolfsson, Astrid Andrea Dick, Michael D. Smith, A Nearly Perfect Market Social Science Research Network. ,(2009) , 10.2139/SSRN.450220
Robert E. Burnkrant, Alain Cousineau, Informational and Normative Social Influence in Buyer Behavior Journal of Consumer Research. ,vol. 2, pp. 206- 215 ,(1975) , 10.1086/208633
Meeyoung Cha, Alan Mislove, Ben Adams, Krishna P. Gummadi, Characterizing social cascades in flickr Proceedings of the first workshop on Online social networks - WOSP '08. pp. 13- 18 ,(2008) , 10.1145/1397735.1397739