Our Work - Narrative Economics
Professor Shiller defined the term “narratives” to refer to stories or ideas, particularly those of human interest and emotion that are conveyed in interaction and communication. We the human through the history have been highly influenced by narratives to determine our course of action or to justify the ongoing actions. These stories connect individuals based upon values, needs, wishes, and compromises in multiple domains including politics, religion, health and fitness, travel, safety, and security. Many narratives initiate but only a few go viral. They spread fast in time and space and may result in substantial sociopolitical and economic change.
We are developing an approach to algorithmically analyze narratives and their propagation through topic modelling and natural language understanding techniques.
Our research goals are:
Capture trending narratives from across the world through different media such as news, reviews, blogs and social media
Predict the spread, mutation and propagation of narratives
Develop decision support mechanisms to help businesses and communities to make better decisions to avert reputational risk, or to generate viral levels of interest in products or services
We presented at the Strata Data in London on May 23, 2018 and then in New York on September 22, 2018.