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We study the online market for peer-to-peer (P2P) lending, in which individuals bid on unsecured microloans sought by other individual borrowers. Using a large sample of consummated and failed listings from the largest online P2P lending marketplace, Prosper.com, we find that the online friendships of borrowers act as signals of credit quality. Friendships increase the probability of successful funding, lower interest rates on funded loans, and are associated with lower ex post default rates. The economic effects of friendships show a striking gradation based on the roles and identities of the friends. We discuss the implications of our findings for the disintermediation of financial markets and the design of decentralized electronic markets. This paper was accepted by Sandra Slaughter, information systems.

This review addresses the use of peer-mediated interventions (PMI) to improve the social interaction skills of students with autism spectrum disorder (ASD) in inclusive settings. The purpose of this review is to (a) identify the characteristics and components of peer-mediated social interaction interventions, (b) evaluate the effectiveness of PMI by offering an analysis of intervention results and research design, and (c) suggest directions for future research. Overall, results suggest that PMI is a promising treatment for increasing social interaction in children, adolescents, and young adults with ASD in inclusive settings, with positive generalization, maintenance, and social validity outcomes. Findings also suggest that participant characteristics and the type of social deficit an individual exhibits are important considerations when choosing the optimal configuration of PMI strategies.

Is it possible to reliably evaluate the quality of peer reviews? We study this question driven by two primary motivations – incentivizing high-quality reviewing using assessed quality of reviews and measuring changes to review quality in experiments. We conduct a large scale study at the NeurIPS 2022 conference, a top-tier conference in machine learning, in which we invited (meta)-reviewers and authors to voluntarily evaluate reviews given to submitted papers. First, we conduct a randomized controlled trial to examine bias due to the length of reviews. We generate elongated versions of reviews by adding substantial amounts of non-informative content. Participants in the control group evaluate the original reviews, whereas participants in the experimental group evaluate the artificially lengthened versions. We find that lengthened reviews are scored (statistically significantly) higher quality than the original reviews. Additionally, in analysis of observational data we find that authors are positively biased towards reviews recommending acceptance of their own papers, even after controlling for confounders of review length, quality, and different numbers of papers per author. We also measure disagreement rates between multiple evaluations of the same review of 28% – 32%, which is comparable to that of paper reviewers at NeurIPS. Further, we assess the amount of miscalibration of evaluators of reviews using a linear model of quality scores and find that it is similar to estimates of miscalibration of paper reviewers at NeurIPS. Finally, we estimate the amount of variability in subjective opinions around how to map individual criteria to overall scores of review quality and find that it is roughly the same as that in the review of papers. Our results suggest that the various problems that exist in reviews of papers – inconsistency, bias towards irrelevant factors, miscalibration, subjectivity – also arise in reviewing of reviews.

Research Summary: While prior studies have predominantly shown that CEO narcissism and hubris exhibit similar effects on various strategic decisions and outcomes, this study aims to explore the mechanisms underlying how narcissistic versus hubristic CEOs affect their firms differently. Specifically, we investigate how peer influence moderates the CEO narcissism/hubris—corporate social responsibility (CSR). With a sample of S&P 1500 firms for 2003-2010, we find that the positive relationship between CEO narcissism and CSR is strengthened (weakened) when board-interlocked peer firms invest less (more) intensively in CSR than a CEO's own firm; the negative relationship between CEO hubris and CSR is strengthened when peer firms are engaged in less CSR than a CEO's own firm. Managerial Summary: Some CEOs are more narcissistic while others may be more hubristic, but these two groups of CEOs hold different attitudes toward the extent to which their firms should engage in corporate social responsibility (CSR). Our findings with a large sample of U.S. publically listed firms suggest that narcissistic CEOs care more about CSR, but hubristic CEOs care less. Interestingly, when narcissistic CEOs observe their peer firms engaging in more or less CSR than their own firms, they tend to respond in an opposite manner; in contrast, hubristic CEOs will only engage in even less CSR when their peers also do not emphasize CSR. Our findings point to a fundamental difference between CEO narcissism and hubris in terms of how they affect firms' CSR decisions based on their social comparison with peer firms.

We describe an equilibrium model of peer-to-peer product sharing, or collaborative consumption, where individuals with varying usage levels make decisions about whether or not to own a homogeneous product. Owners are able to generate income from renting their products to nonowners while nonowners are able to access these products through renting on an as-needed basis. We characterize equilibrium outcomes, including ownership and usage levels, consumer surplus, and social welfare. We compare each outcome in systems with and without collaborative consumption and examine the impact of various problem parameters. Our findings indicate that collaborative consumption can result in either lower or higher ownership and usage levels, with higher ownership and usage levels more likely when the cost of ownership is high. Our findings also indicate that consumers always benefit from collaborative consumption, with individuals who, in the absence of collaborative consumption, are indifferent between owning and not owning benefitting the most. We study both profit-maximizing and social-welfare–maximizing platforms and compare equilibrium outcomes under both in terms of ownership, usage, and social welfare. We find that the difference in social welfare between the profit-maximizing and social-welfare–maximizing platforms is relatively modest. The online appendix is available at https://doi.org/10.1287/mnsc.2017.2970 . This paper was accepted by Gad Allon, operations management.

Social withdrawal and social anxiety are believed to have a bidirectional influence on one another, but it is unknown if their relationship is bidirectional, especially within person, and if peer experiences influence this relationship. We investigated temporal sequencing and the strength of effects between social withdrawal and social anxiety, and the roles of peer victimization and acceptance in the pathways. Participants were 2,772 adolescents from the population-based and clinically referred cohorts of the Tracking Adolescents' Individual Lives Survey. Self- and parent-reported withdrawal, and self-reported social anxiety, peer victimization, and perceived peer acceptance were assessed at 11, 13, and 16 years. Random-intercept cross-lagged panel models were used to investigate within-person associations between these variables. There was no feedback loop between withdrawal and social anxiety. Social withdrawal did not predict social anxiety at any age. Social anxiety at 11 years predicted increased self-reported withdrawal at 13 years. Negative peer experiences predicted increased self- and parent-reported withdrawal at 13 years and increased parent-reported withdrawal at 16 years. In turn, self-reported withdrawal at 13 years predicted negative peer experiences at 16 years. In conclusion, adolescents became more withdrawn when they became more socially anxious or experienced greater peer problems, and increasing withdrawal predicted greater victimization and lower acceptance.

A stochastic actor-based model was used to investigate the origins of sex segregation by examining how similarity in sex of peers and time spent in gender-typed activities affected affiliation network selection and how peers influenced children's (N = 292; M age = 4.3 years) activity involvement. Gender had powerful effects on interactions through direct and indirect pathways. Children selected playmates of the same sex and with similar levels of gender-typed activities. Selection based on gender-typed activities partially mediated selection based on sex of peers. Children influenced one another's engagement in gender-typed activities. When mechanisms producing sex segregation were compared, the largest contributor was selection based on sex of peers; less was due to activity-based selection and peer influence. Implications for sex segregation and gender development are discussed.

We investigated a unique way in which adolescent peer influence occurs on social media. We developed a novel functional MRI (fMRI) paradigm to simulate Instagram, a popular social photo-sharing tool, and measured adolescents' behavioral and neural responses to likes, a quantifiable form of social endorsement and potential source of peer influence. Adolescents underwent fMRI while viewing photos ostensibly submitted to Instagram. They were more likely to like photos depicted with many likes than photos with few likes; this finding showed the influence of virtual peer endorsement and held for both neutral photos and photos of risky behaviors (e.g., drinking, smoking). Viewing photos with many (compared with few) likes was associated with greater activity in neural regions implicated in reward processing, social cognition, imitation, and attention. Furthermore, when adolescents viewed risky photos (as opposed to neutral photos), activation in the cognitive-control network decreased. These findings highlight possible mechanisms underlying peer influence during adolescence.

Demonstrating compelling causal evidence of the existence and strength of peer-to-peer influence has become the holy grail of modern research in online social networks. In these networks, it has been consistently demonstrated that user characteristics and behavior tend to cluster both in space and in time. There are multiple well-known rival mechanisms that compete to be the explanation for this observed clustering. These range from peer influence to homophily to other unobservable external stimuli. These multiple mechanisms lead to similar observational data, yet have vastly different policy implications. In this paper, we present a novel randomized experiment that tests the existence of causal peer influence in the general population—one that did not involve subject recruitment for experimentation—of a particular large-scale online social network. We utilize a unique social feature to exogenously induce adoption of a paid service among a group of randomly selected users, and in the process develop a clean exogenous randomization of treatment and control groups. A variety of nonparametric, semiparametric, and parametric approaches, ranging from resampling-based inference to ego-level random effects to logistic regression to survival models, yield close to identical, statistically and economically significant estimates of peer influence in the general population of a freemium social network. Our estimates show that peer influence causes more than a 60% increase in odds of buying the service due to the influence coming from an adopting friend. In addition, we find that users with a smaller number of friends experience stronger relative increase in the adoption likelihood due to influence from their peers as compared to the users with a larger number of friends. Our nonparametric resampling procedure-based estimates are helpful in situations of networked data that violate independence assumptions. We establish that peer influence is a powerful force in getting users from free to premium levels, a known challenge in freemium communities. This paper was accepted by Sandra Slaughter, information systems .

Adolescents experience various forms of strain in their lives that may contribute jointly to their engagement in cyber aggression. However, little attention has been given to this idea. To address this gap in the literature, the present longitudinal study examined the moderating influence of peer rejection on the relationship between cyber victimization at Time 1 (T1) and subsequent cyber aggression at Time 2 (T2; 6 months later) among 261 (150 girls) 6th, 7th, and 8th graders. Our findings indicated that both peer rejection and cyber victimization were related to T2 peer-nominated and self-reported cyber aggression, both relational and verbal, after controlling for gender and T1 cyber aggression. Furthermore, T1 cyber victimization was related more strongly to T2 peer-nominated and self-reported cyber aggression at higher levels of T1 peer rejection. These results extend previous findings regarding the relationship between peer rejection and face-to-face aggressive behaviors to the cyber context. In addition, our findings underscore the importance of utilizing multiple methods, such as peer-nomination and self-report, to assess cyber aggression in a school setting.