Incentivizing the Dissemination of Truth Versus Fake News in Social Networks

Abstract

The concept of truth, as a public good is the production of a collective understanding, which emerges from a complex network of social interactions. The recent impact of social networks on shaping the perception of truth in political arena shows how such perception is corroborated and established by the online users, collectively. However, investigative journalism for discovering truth is a costly option, given the vast spectrum of online information. In some cases, both journalist and online users choose not to investigate the authenticity of the news they receive, because they assume other actors of the network had carried the cost of validation. Therefore, the new phenomenon of "fake news" has emerged within the context of social networks. The online social networks, similarly to System of Systems, cause emergent properties, which makes authentication processes difficult, given availability of multiple sources. In this study, we show how this conflict can be modeled as a volunteer's dilemma. We also show how the public contribution through news subscription (shared rewards) can impact the dominance of truth over fake news in the network.