Economics And Social Networks | Paul Ormerod | Evonomics | 17th July 2016

Economics has generally assumed that individuals operate autonomously, with a fixed set of tastes and preferences, uncoupled from the direct influences of others. But if the world was ever like this, it is not like this now. We are constantly reacting to the choices, decisions, behaviours and opinions of others. Individual actions merge into collective actions; norms and values emerge dynamically. Public policy needs to adjust, learning to target networked behaviour rather individual behaviour