This tutorial is structured into two parts: the first reviews the economics of social media literature, and the second focuses on the practical conduct of experiments on social media to study these questions.
Article: The Economics of Social Media
Slides: Coming soon!
Abstract: We provide a guide to the burgeoning literature on the economics of social media. We first define social media platforms and highlight their unique features. We then synthesize the main lessons from the empirical economics literature and organize them around the three stages of the life cycle of content: (i) production, (ii) distribution, and (iii) consumption. Under production, we discuss how incentives affect content produced on and off social media and how harmful content is moderated. Under distribution, we discuss the social network structure, algorithms, and targeted advertisements. Under consumption, we discuss how social media affects individuals who consume its content and society at large, and explore consumer substitution patterns across platforms. Throughout the guide, we examine case studies on the deterrence of misinformation, segregation, political advertisements, and the effects of social media on political outcomes. We conclude with a brief discussion of the future of social media.
Article: Experiments on Social Media
Slides: Coming soon!
Abstract: We provide a practical guide to designing, conducting, and analyzing experiments using social media platforms. First, we discuss the benefits and challenges of using the targeting capabilities of advertisements on social media to recruit participants for a large class of experiments. Next, we outline the different types of interventions and their advantages and disadvantages. Finally, we summarize available compliance and outcome data, as well as the main limitations and challenges involved in the design and analysis of social media experiments. Throughout, we provide technical details that are helpful when implementing these experiments. Overall, we argue that experiments on social media are powerful not only for studying economic issues around social media and online platforms but also for experiments studying economic behavior more broadly.