A Theory of Fads, Fashion, Custom, and Cultural Change in Informational Cascades.

An informational cascade occurs when it is optimal for an individual, having observed the actions of those ahead of him, to follow the behavior of the preceding individual with regard to his own information. The authors argue that localized conformity of behavior and the fragility of mass behaviors can be explained by informational cascades. Copyright 1992 by University of Chicago Press.

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Year of publication:	1992
Authors:	Bikhchandani, Sushil ; Hirshleifer, David ; Welch, Ivo
Published in:	Journal of Political Economy. - University of Chicago Press. - Vol. 100.1992, 5, p. 992-1026
Publisher:	University of Chicago Press

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Extent:	application/pdf
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005732966