Abstract: Individual behavior serves as the cornerstone of digital economic activities. Gaining an accurate understanding of the behavioral patterns and characteristics within the digital economy is imperative for its stable, healthy, and orderly progression. With college students as participants, this study employs a randomized control trial within the WeChat “One Hop” mini-game to empirically investigate the influence of network externalities on individual behavior within the digital economy. The findings are as follows: (1) Network externalities have a significant positive impact on players’ gaming behavior. (2) Network externalities have a “network effect” and an “acquaintance effect” on individual behavior, and these two effects are complementary and substitutable. (3) Network externalities do not trigger continuous irrational behavior in individuals. Players will not completely ignore personal information due to the “acquaintance effect” in online games. As players develop gaming habit and gather experience, their decision-making process is increasingly guided by their intrinsic preferences. These research conclusions contribute to the understanding of the operation patterns and logic of the digital economy, offering important insights for developers of digital products and relevant management departments.

Key words: digital economy, network externalities, network effect, randomized control trial